Deals
Brookfield Mulls Investment in Debt of Mistry’s Group
- Conglomerate looking to use shares of units as collateral
- Structured loans an option after pandemic delays asset sales
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India’s Shapoorji Pallonji Group is in preliminary talks with Brookfield Asset Management Inc. to raise as much as $400 million in structured debt to help repay maturing obligations, according to people with knowledge of the matter.
The Mumbai-based conglomerate, controlled by billionaire Pallonji Mistry and his family, plans to use shares of unit companies as collateral against the borrowings, said one of the people, asking not to be identified as the discussions are private.