Shapoorji Pallonji Group is negotiating with lenders for a bond repayment extension. The group seeks three to six months to continue its debt refinancing plans. Proceeds from July financing were expected to cover the maturity. SP Group’s dollar bond has gained in the secondary market recently. Investors are monitoring developments around the group’s Tata Sons holding.
Dollar advances vs yen as BOJ dissent clouds rate-hike outlook
Following the Bank of Japan’s decision to increase interest rates, the dollar saw a rise against the yen. Some policymakers expressed skepticism regarding further hikes,