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The transaction is one of the largest project financing transactions undertaken under India’s revamped External Commercial Borrowing (ECB) regime, underscoring continued foreign banks appetite for large-scale renewable energy infrastructure and innovative financing structures in the sector.
CAM acted as legal counsel to TPG in connection with its acquisition of 100% of the share capital of Aseem Infrastructure Finance Limited (AIFL).
Shardul Amarchand Mangaldas advised on the review, negotiation and finalization of the share purchase agreement governing the sale of AIFL’s shares to TPG and related transaction documents.
CAM also advised on and drafted a power purchase agreement to be entered into between the Borrower and Evonith Value Steel Limited and Evonith Metallics Limited (as the Sponsors).
The transaction team was involved in structuring, documentation, negotiations and providing advice on all relevant Indian legal matters in relation to the transaction. The transaction structure was unique as the financing was provided outside of the ECB framework.
The Proposed Merger shall create a financing entity with an aggregate loan book of over INR 11 lakh crore, and the combined entity is valued at approx. INR 2.42 lakh crores. The deal involved extensive discussions with the Ministries and other governmental authorities for finalisation of the scheme and overall structuring of the Proposed Merger.
CAM acts as lenders’ legal counsel to International Finance Corporation and India Infrastructure Finance Company Ltd.
Cyril Amarchand Mangaldas acted as lenders’ legal counsel to International Finance Corporation (IFC) and India Infrastructure Finance Company Ltd. (IIFCL), advising on a significant financing transaction.
Cyril Amarchand Mangaldas (CAM) advised Union Bank of India in connection with a ₹2,443 crore loan facility extended to Ananthapuram II Power Transmission Ltd. for the development of the Renewable Energy Zone (REZ) Phase II transmission project.
This deal marks financial closure of Phase 1 of HPCL’s green energy initiative, which is currently focused on captive usage for HPCL’s group companies.
Project Finance re-defined under RBI’s new Directions.
CAM acted as legal counsel to GMR Nagpur International Airport Limited