Cyril Amarchand Mangaldas represented a syndicate of lenders comprising Natixis IFSC Banking Unit, Coöperatieve Rabobank U.A. (Singapore Branch), Sumitomo Mitsui Banking Corporation (GIFT City Branch), Clifford Capital Credit Solutions Pte. Ltd., DBS Bank Ltd. (IFSC Banking Unit, GIFT City), MUFG Bank, Ltd. (GIFT Branch), ING Bank N.V. (Singapore Branch) and Intesa Sanpaolo S.p.A. (Singapore Branch) (together with the mandated lead arrangers, the Lenders), in connection with a USD 800 million bridge financing facility availed jointly by Giridhari Build Estate Limited (GBEL) and Granthik Realtors Private Limited (GRPL), each a subsidiary of AdaniConneX Private Limited (ACX), a joint venture between Adani Enterprises Limited and EdgeConneX.
The facility is being availed for the construction, operation and maintenance of five data centre projects at Ellikatta District, Telangana, Hyderabad: an 80 MW facility (HYD22) and a 30 MW facility (HYD23), both developed by GRPL, and an 80 MW facility (HYD24), an 80 MW facility (HYD25) and a 40 MW facility (HYD26), each developed by GBEL.
The transaction was led by Subhalakshmi Naskar, Partner (Co-Head – Projects (Infrastructure); and Abhishek Khatri, Partner; with support from Shlok Shetty, Associate.
