Banking and Finance

Representative Matters

Project Financing

Domestic and International Bonds and Debentures

Acquisition and Leveraged Finance

Mezzanine Financing

Real Estate Financing and LRDs

• Coöperatieve Rabobank U.A., Hong Kong Branch, Export-Import Bank of India, India Infrastructure Finance Company (UK) Limited, MUFG Bank, Ltd., Gift Branch, Société Générale, acting through its Singapore Branch and YES Bank Limited- IFSC Banking Unit in connection with foreign currency term loan facilities for an aggregate amount not exceeding USD Equivalent of up to USD 425 Million (approx) in connection with the construction, operation and maintenance of a 200 MW Round The Clock hybrid project, being developed by Serentica Renewables India 4 Private Limited and MUFG Bank, Ltd., YES Bank Limited and Société Générale. ‘Indian Deal of the Year’ at the PFI Awards; and
• Indian Renewable Energy Development Agency Limited as borrower in relation to a JPY 28,000,000,000 syndicated sustainable term loan facility. The Facility was provided by Sumitomo Mitsui Banking Corporation, GIFT City Branch, as Original Lender, with Sumitomo Mitsui Banking Corporation, Singapore Branch acting as Mandated Lead Arranger and Bookrunner, Sustainability Coordinator and Agent. This transaction is a landmark JPY denominated sustainable ECB for a Government of India owned renewable energy financier, combining an advanced TONA based risk free rate interest construct and compounding methodology within an Indian ECB and NBFC compliant framework.
• State Bank of India in relation to the financial assistance aggregating up to INR 4072 Crore to ACME Venus Urja Private Limited. The proceeds of the loan are proposed to be utilized for the purpose of part-financing cost of construction and development of 400 MW firm and dispatch able renewable energy (FDRE) project at Barmer, in the State of Rajasthan.
• Maple Infrastructure Trust in relation to the financial assistance aggregating up to approximately INR 3750 Crore availed from National Bank for Financing Infrastructure and Development and Axis Bank Limited. The transaction features a two-tier financing structure, with debt raised at the InvIT level against pooled cash flows and on-lent to underlying NHAI road SPVs. The structure ensures efficient capital deployment, ring-fenced project cash flows, and alignment between InvIT-level and project-level lenders, while preserving concession rights and minimizing cross-project risk within the InvIT platform.
• National Bank for Financing Infrastructure and Development and Canara Bank in relation to the financial assistance aggregating up to approximately: (i) a rupee term loan facility aggregating up to INR 2,772 having a sub-limit of letter of credit facility aggregating up to INR 2,400 Crore (ii) a bank guarantee facility aggregating up to INR 180 Crore availed by Deshraj Solar Energy Private Limited towards its project situated in the state of Rajasthan.
• India Infradebt Limited, in connection with sanctioning certain refinancing facilities in the form of rupee term loans aggregating up to INR 2410.90 Million extended to Teq Green (JP) Power XXXI Private Limited (formerly known as Jakson Power Private Limited), a project special purpose vehicle promoted by O2 Power SG Pte. Ltd. and JSW Neo Energy Limited.
• Axis Bank Limited and other consortium lenders in connection with financial assistance in the form of a rupee term loan and letter of credit facilities (being a sub-limit thereunder) aggregating up to INR 2,540 crore, sanctioned to Adani Solar Energy Jodhpur Six Limited. The Facility was extended for the purpose of setting up renewable energy solar power projects having a total contracted capacity of 625 MW, as part of a greenfield solar project at Khavda, Kutch, in the State of Gujarat.
• Consortium of lenders comprising Crédit Agricole Corporate and Investment Bank, Export-Import Bank of India, MUFG Bank Ltd. and Indian Infrastructure Finance Company Limited in relation to financial assistance comprising a rupee term loan facility aggregating up to INR 1,891.10 crore, together with a letter of credit facility of up to INR 1,323.80 crore as a sub-limit to the term loan facility sanctioned to Clean Renewable Energy AP One Private Limited.
• Tata Capital Limited, in connection with sanctioning a term loan facility of up to INR 1235 Crore to AGP Group’s Zerra DC platform entity in relation to setting up of a greenfield 200 MW integrated data centre project in Thane district, Maharashtra. The integrated data centre facility, once operational, is expected to be one of the largest data centres in India, designed to support hyperscale deployments.
• Bank of America, Standard Chartered Bank and India Infradebt Limited on facility availed of INR 1072 crore sanctioned to ACME Aklera Power Technology Private Limited for refinancing the existing indebtedness in relation to its operational 250 MW (374 MWp) solar PV power project at Rathkudia, Aarang and other nearby villages, in Tehsil Shiv in Barmer district of Rajasthan.
• House of Abhinandan Lodha in relation to setting up and funding an USD 180 Million joint venture with HDFC Capital Affordable Real Estate Fund towards the development of new generation low-rise residential projects in India.
• Ola Cell Technologies Private Limited in relation to the financial assistance availed from State Bank of India aggregating up to USD 229 Million in connection with Gigafactory Project for manufacturing Advanced Chemistry Cell (ACC) battery for electrical vehicles, situated at Krishnagiri, Tamil Nadu, India.
• A consortium of 22 banks and financial institutions led by the State Bank of India in relation to the debt funding provided to Tata Steel for the 2.9 MTPA crude steel capacity brownfield expansion project at the Tata Steel works at Jamshedpur for a total syndicated rupee debt of approximately USD 2.08 Billion.
• A consortium of Indian and foreign banks led by the State Bank of India for project financing of the phase-wise USD 3 Billion expansion of 3300 MW (5 x 660 MW) undertaken by Adani Power in Gujarat. ‘Deal of the Year’ by India Business Law Journal; and ‘Indian Power Transmission Deal of the Year’ by Project Finance Magazine.
• Radiance Group in relation to the financial assistance availed by two of its SPVs namely (i) Radiance DC Sun Energy Private Limited and (ii) Radiance MH Solar Park Private Limited from Axis Bank Limited and Standard Chartered Bank aggregating up to USD 858 Million approx. in connection with solar power park being set-up in Maharashtra.
• REC Limited in connection with non-fund based project specific financial assistance aggregating up to USD 729 Million sanctioned to Suzlon Energy Limited acting as an EPC Contractor for supply of wind turbine generators for wind power project(s) awarded to multiple renewable power project developers.
• Power Finance Corporation Limited in relation to the financial assistance in the form of rupee term loan aggregating up to INR 2094 crore to Adani Wind Energy Kutchh Three Limited for the purpose of part-financing cost of construction and development of 323.4 MW Wind Power Project (Phase II) in Mundra, Kutchh, in the State of Gujarat.
• Indian Renewable Energy Development Agency Limited in connection with financial assistance sanctioned to Wish Renewables Private Limited aggregating up to INR 1070 Crore for the purpose of supply, configuration and integration of 18.58 lakh smart meters for Andhra Pradesh Central Power Distribution Corporation Limited, Andhra Pradesh Eastern Power Distribution Corporation Limited and Southern Power Distribution Company of Andhra Pradesh Limited.
• Investors comprising of Nippon India Mutual Fund, SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund and Kotak Mahindra Mutual Fund in connection with private placement of up to 50,000 senior, secured, taxable, rated, listed, redeemable, non-convertible debt securities having a face value of INR 1,00,000 each, aggregating up to INR 500 Crore (Debt Securities) by Highways Infrastructure Trust, the road InvIT platform launched by KKR.
• ONGC in connection with the syndicated term loan financing of USD 1.9 Billion for its 1.1. MMTPA greenfield Petrochemical Complex project at Dahej SEZ, Gujarat.
• A consortium of lenders in a complete refinancing of historical high cost debt of Nayara Energy under new management in a deal valued at over USD 5 Billion.
• A syndicate of domestic and foreign lenders in relation to the USD 4 Billion financing of the approximately 4000 MW Sasan ultra mega power project, along with development of integrated coal mines for captive usage. ‘Deal of the Year’ by India Business Law Journal; and ‘Deal of the Year’ by Project Finance & Infrastructure Finance Magazine.
• United Spirits Limited in the acquisition financing of Whyte & Mackay valued at USD 1.18 Billion.
• A consortium of 18 banks and financial institutions led by State Bank of India in relation to the rupee financing to set up a 3×660 MW coal fired power plant station at Allahabad, Uttar Pradesh at a project cost of USD 2.34 Billion.
• HPCL-Mittal Energy Limited as the borrower’s counsel in relation to limited recourse USD 1.72 Billion financing of 9 MMTPA greenfield petroleum refinery in Bathinda, Punjab.
• Cairn India Limited: (i) in relation to the issuance of Unsecured Non-0Convertible Debentures aggregating to USD 507 Million on a private placement basis for general corporate and refinancing purposes (ii) for securing USD 1.6 Billion for its projects in Rajasthan.
• A consortium of nineteen Indian banks involved in the restructuring of the entire working capital debt (aggregating to INR 214,744.3 Million) availed by Air India by way of long term loans, short term loans, cash credit facilities and funded interest term loans, backed by support through equity infusion from the Ministry of Civil Aviation, Government of India.
• A consortium of banks and financial institutions led by IDBI Bank in relation to the project finance lending provided by them to GVK Power. The transaction was valued at approximately USD 680 Million.
• GMR on a transaction relating to financing the acquisition of 50% stake in InterGen NV, one of the world’s leading independent power producers with approximately 12 power assets in 5 jurisdictions, for approximately USD 1.2 Billion. BMW Asia Award- ‘SE Asia Deal of the Year’ by ALB.
• A consortium of 27 lenders led by Power Finance Corporation Limited, in connection with the USD 2.7 Billion senior secured syndicated rupee term and letter of credit facility to KSK Mahanadi Power Company Limited in relation to the construction and operation of coal based thermal power project, being built at an estimated project cost of USD 3.56 Billion.
• A consortium of Indian banks jointly led by IDBI Bank and State Bank of India in relation to a non-recourse financing of USD 800 Million to enable Nagarjuna Oil Corporation Limited to set up an oil refinery in Tamil Nadu.
• A consortium of 18 banks and financial institutions led by State Bank of India in relation to the project finance lending provided to Videocon Telecommunications for an amount of USD 1.58 Billion.
• YES Bank in relation to financial assistance made available to Greenko Energies Private Limited for the purposes of the part financing of the construction, operation and maintenance of the Integrated Renewable Energy Projects (IREP) for an amount of USD 800 Million.
• State Bank of India on: (i) Issuance of Basel III compliant Additional Tier 1 Bonds aggregating INR 7100 Crore, in the nature of listed, non-convertible debentures issued on a private placement basis in the financial year 2016-17. (ii) Issuance of Basel III compliant Tier 2 Bonds aggregating INR 10,500 Crore in the financial year 2015-16.
• Thar Surya Private Limited in connection with facilities proposed to be availed from International Finance Corporation, CDC Group Plc and Asian Infrastructure Investment Bank for the construction of a 300 MW (AC) Solar PV project located in Rajasthan, India.
• FS India Solar Ventures in relation to financing proposed to be made available by United States International Development Finance Corporation for an amount of USD 500,000,000 for the purpose of financing development and construction of the 3.3GW-per-annum cadmium telluride solar module manufacturing facility at the Pillaipakkam Industrial Park in Tamil Nadu.
• L&T Finance Limited and YES Bank Limited in connection with the financing aggregating to INR 9.87 Billion provided to two subsidiaries of the Kalyan Group for developing, setting up, constructing the four laning of Chakur-Loha section of NH-361.
• ICICI Bank in relation to the issuance of listed senior secured non-convertible debentures aggregating to INR 10 Billion issued by Adani Ports and SEZ Limited. The said issue was oversubscribed 2.5x.
• ICICI Bank in connection with financial assistance sanctioned to Rajiv Chowk-Sohna Highway Private Limited aggregating up to INR 2378 Million for the purpose of re-financing part of existing secured indebtedness of the borrower company availed in relation to six lanes and strengthening of NH-248A.
• Intesa Sanpaolo S.P.A in relation to provision of external commercial borrowings aggregating to EUR 15,250,000 availed by Aravali Transmission Service Company Limited (a wholly owned subsidiary of Adani Transmission Limited).
• Bank of America in relation to the financial assistances aggregating up to INR 770 Crore made available to ReNew Wind Energy Private Limited, a company promoted by ReNew Power Private Limited in relation to its solar power projects in the states of Karnataka and Telangana.
• A consortium of lenders led by Bank of Baroda, in connection with the financial assistance to Ola Electric Technologies Private Limited, the electric vehicles (EV) arm of cab aggregator Ola, for the purpose of setting up a green field project for manufacturing electric two wheeler vehicles.
• ICICI Bank Limited and Axis Bank Limited in connection with the financial assistance aggregating up to INR 9.85 Billion to Poondiankuppam – Sattanathpuram Section Private Limited, a subsidiary of Oriental Tollways Private Limited.
• HDFC Bank in connection with the financial assistance aggregating up to INR 5 Billion to Green Gas Limited, a joint venture of GAIL (India) Limited and Indian Oil Corporation Limited.
• NIIF Infrastructure Finance Limited and India Infradebt Limited in connection with the proposed additional takeout and top-up financial assistance aggregating up to INR 1.79 Billion to Amplus KN Solar Private Limited, a subsidiary of Amplus Energy Solutions Pte. Ltd, Singapore.
• Japan Bank for International CooperationKfW Development BankKotak Mahindra BankL&T Infrastructure Finance CompanyMizuho BankNational Investment and Infrastructure FundNew Development BankNordic Investment BankState Bank of IndiaTata Cleantech Capital LimitedYes BankJapan Bank for International CooperationKfW Development BankKotak Mahindra BankL&T Infrastructure Finance CompanyMizuho BankNational Investment and Infrastructure FundNew Development BankNordic Investment BankState Bank of IndiaTata Cleantech Capital LimitedYes BankAxis BankBank of BarodaBirla Sunlife Asset ManagementCanara BankCredit Agricole Corporate & Investment BankDBS BankHDFC BankIDBI BankIFCI LimitedIKB Deutsche Industriebank [IKB]India Infrastructure Finance Company UK LimitedAxis BankBank of BarodaBirla Sunlife Asset ManagementCanara BankCredit Agricole Corporate & Investment BankDBS BankHDFC BankIDBI BankIFCI LimitedIKB Deutsche Industriebank [IKB]India Infrastructure Finance Company UK LimitedIndicative List of Empaneled BanksIndicative List of Empaneled Banks

Japan Bank for International Cooperation

KfW Development Bank

Kotak Mahindra Bank

Mizuho Bank

New Development Bank

Nordic Investment Bank

State Bank of India

Tata Cleantech Capital Limited

Yes Bank

Japan Bank for International Cooperation

KfW Development Bank

Kotak Mahindra Bank

Mizuho Bank

New Development Bank

Nordic Investment Bank

State Bank of India

Tata Cleantech Capital Limited

Yes Bank

Axis Bank

Bank of Baroda

Canara Bank

Credit Agricole Corporate & Investment Bank

DBS Bank

HDFC Bank

IDBI Bank

IFCI Limited

India Infrastructure Finance Company UK Limited

Axis Bank

Bank of Baroda

Canara Bank

Credit Agricole Corporate & Investment Bank

DBS Bank

HDFC Bank

IDBI Bank

IFCI Limited

India Infrastructure Finance Company UK Limited