India's SP Group unit gets investor nod for 2-month debt extension plea, sources say
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India's Shapoorji Pallonji Group has reportedly received investor approval for a two-month extension on debt repayment for its unit, Goswami Infratech. The company, which raised 143 billion rupees ($1.54 billion) through bond sales, is seeking to extend the maturity of high-yield notes to June 30 from April 30. Investors are likely to approve this request without additional demands. Goswami Infratech's plans to raise $2.8 billion to $3.1 billion have faced delays due to increased rupee hedging costs. Deutsche Bank is arranging a new zero-coupon bond issue for the company.
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