{"id":49060,"date":"2025-06-05T09:26:29","date_gmt":"2025-06-05T09:26:29","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&#038;p=49060"},"modified":"2025-06-05T09:26:29","modified_gmt":"2025-06-05T09:26:29","slug":"desai-diwanji-advises-on-largest-private-credit-deal-outside-the-us","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/desai-diwanji-advises-on-largest-private-credit-deal-outside-the-us\/","title":{"rendered":"Desai &amp; Diwanji Advises on Largest Private Credit Deal Outside the US"},"content":{"rendered":"<p><strong>04 June 2025:<\/strong> <strong>Desai &amp; Diwanji is delighted to have advised Porteast Investment, a promoter entity of the Shapoorji Pallonji Group (\u201cSP Group\u201d), in connection with a landmark \u20b9286 billion (USD 3.3 billion) financing transaction. This deal marks the largest private credit transaction outside the US to date.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>The financing, structured as unrated, unlisted, secured, zero-coupon, redeemable non-convertible debentures, was executed to refinance existing debt and support capital needs across the SP Group. This issuance, exclusively arranged by Deutsche Bank, represents the first large-scale corporate bond placement following changes in Foreign Portfolio Investor (FPI) norms, which now permit offshore investment under the general limit route instead of the more restrictive Voluntary Retention Route (VRR).<\/p>\n<p>\u201cWe are delighted to have advised on this marquis transaction which involved a number of stakeholders resulting in complex structuring and negotiations.\u201d said Natasha Treasurywala, Partner at Desai &amp; Diwanji.<\/p>\n<p>Desai &amp; Diwanji acted as legal counsel to the Issuer i.e. Porteast Investment. The deal team was led by Partners\u00a0<strong>Natasha Treasurywala <\/strong>and\u00a0<strong>Shireen Langrana<\/strong> and included Associate Partner\u00a0<strong>Vishal Mali<\/strong>\u00a0and Associates\u00a0<strong>Poorva Bansal<\/strong>\u00a0and\u00a0<strong>Harsh Desai<\/strong>, with strategic inputs from Senior Partner\u00a0<strong>Apurva Diwanji<\/strong>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-49060","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/49060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=49060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}