Top Indian Private Credit Borrower Delays Paying 20.75% Bond

When you’re getting a 20.75% yield on a bond, you mustn’t expect all smooth sailing.

Shapoorji Pallonji Group, India’s biggest private credit borrower and issuer of one of its largest-ever junk bonds, has just reinforced that point. Holders of a high-yield note issued by a unit of the infrastructure conglomerate unanimously agreed to let the company delay paying principal and interest to June 30, people familiar with the matter said.