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Shapoorji real estate arm enters Rs 750-crore debt financing deal

According to sources, SPRE has gone for structured debt financing at a rate of around 20 per cent

construction, realty, real estate, concrete, cement, buildings, high rise
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Consultants said this deal assumes significance given the overall liquidity squeeze faced by developers as well as NBFCs

Raghavendra Kamath Mumbai
Shapoorji Pallonji Real Estate (SPRE) has raised $100 million (around Rs 750 crore) from non-banking finance company Asia Pragati, people with knowledge of the matter said. This is one of the biggest debt financing deals in real estate this year.

According to sources, SPRE has gone for structured debt financing at a rate of around 20 per cent. The NBFC normally takes two times cover on its loans to developers, sources said. Asia Pragati is part of Hong Kong-based global investor PAG.

Consultants said this deal assumes significance given the overall liquidity squeeze faced by developers as well as NBFCs. They said

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First Published: Aug 07 2020 | 11:12 PM IST

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