TT&A advised on financing by way of unrated, unlisted, secured, zero coupon, redeemable non-convertible debentures of the nominal value of INR 10,000,000 each, aggregating upto INR 286,000,000,000 by Porteast Investment Private Limited, a promoter group entity of the Shapoorji Pallonji group (“SP” Group) for refinancing of existing debt of the issuer and other SP Group entities, and to fund group entities for their capital requirements.

The debentures were secured by, among others, the SP groups’ shareholding in its oil and gas vertical and real estate vertical and 50% of SP group’s shareholding in Tata Sons Private Limited.

This is the largest private credit deal in India till date and attracted significant interest from onshore and offshore private credit investors.

TT&A Team – Sonali Mahapatra & Tanay Agarwal – Partners; Nakul Sonejee & Kartik Jigyasi – Managing Associates; Pallav Rathi – Senior Associate and Adesh Sharma, Anushree Verma, Kashish Agarwal – Associates