Shapoorji In Talks With Cerberus, Farallon for $1.5 Billion Bond

Global investors including Cerberus Capital Management, Farallon Capital Management and Ares Management Corp. are in talks to invest in Shapoorji Pallonji Group’s proposed rupee debt of 143 billion rupees ($1.5 billion), according to people familiar with the matter.

The infrastructure-focused conglomerate, backed by billionaire Shapoor Mistry, is proposing to offer 18.75% yield on the zero-coupon bonds of its unit Goswami Infratech Pvt., the people said, asking not to be identified as the discussions are private. Terms of the potential offering may still change, they said.