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Khaitan & Co advised the National Bank for Financing Infrastructure and Development on the establishment of its maiden USD 4 billion Global Medium Term Note Programme and the issuance of USD 750 million fixed-rate senior unsecured notes due 2036, listed on India INX and NSE IX in GIFT City.
The Hongkong and Shanghai Banking Corporation Limited, Emirates NBD Bank (P.J.S.C.), Merrill Lynch (Singapore) Pte. Ltd., MUFG Securities Asia Limited Singapore Branch and Standard Chartered Bank acted as managers.
SAM advised on all aspects of Indian law relating to the transaction, including the regulatory framework applicable to the issuer under the GIFT City IFSC regime, the structuring of the offering, the review, negotiation and finalisation of the offering circular and transaction documents, including the bond documentation, trust deeds and corporate guarantees. SAM also acted as the listing agent for the listing of the Bonds on NSE IX.