Anchor investors clear path for SP Group's refinancing

Shapoorji Pallonji Group's anchor investors, including global funds, have approved extending relaxed loan-to-value ratios on pledged securities until September 30, clearing the path for a around 22,000 crore Deutsche Bank-led refinancing deal targeted to launch in the first week of July. The refinancing covers Porteast Investments' 3.4 billion dollar bonds issued at a 19.75 percent yield and backed by the group's 18.38 percent stake in Tata Sons. Separately, investors in Goswami Infratech's 14,300 crore bonds approved extending maturity by a month to July 31, with the company paying a 30 basis point consent fee.