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Brookfield may take over Rs 1,500-crore Piramal loan to Bengaluru realtor

Brookfield is steadily building a credit portfolio in real estate. It has built a loan book of $1 billion in the past couple of years

Raghavendra Kamath  |  Mumbai 

In one of the largest among refinancing deals, Canada-based Brookfield Asset Management is in talks with Piramal Capital & Housing Finance to take over a loan given to Bengaluru-based Adarsh Developers, say sources.

The debt is around $200 million or Rs 1,500 crore. Significant because refinancing deals had almost stopped for non-banking financial companies after the IL&FS defaults in September 2018, leading to a liquidity crunch in the segment. “It is part of Piramal’s strategy to reduce single borrower exposure and reduce the share of big-ticket loans in real ...

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First Published: Sun, March 22 2020. 23:31 IST
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