InvIT

Representative Matters

Project Financing

Domestic and International Bonds and Debentures

• We are the only law firm in India to have been involved in all 4 bond financings of the specialized renewable energy INVIT in India.We are the only law firm in India to have been involved in all 4 bond financings of the specialized renewable energy INVIT in India.Structured Finance

Acquisition and Leveraged Finance

Mezzanine Financing

Real Estate Financing and LRDs

• Advised National Bank for Financing Infrastructure and Development (NABFID), a leading all India financial institution, in connection with the subscription of listed, secured, rated, redeemable transferable, non-convertible debentures aggregating up to INR 830 Crore issued by TVS Infrastructure Trust (InvIT). The Issue was raised for the purpose of onward lending to the special purpose vehicles owned and controlled by the InvIT (Project SPVs) for repaying existing lenders and funding capital expenditures for their warehousing projects.
• Advised Virescent Renewable Energy Trust (park of the KKR Platform) in the private placement of 10,000 non-convertible debt securities aggregating up to INR 10 Billion. The transaction was the first of its kind as it marked the first-ever bond issuance by a renewable energy InvIT in India.
• Acted as legal advisers to 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 Rs. 1,00,000 each, aggregating up to Rs. 500,00,00,000 (the “Debt Securities”) by Highways Infrastructure Trust (the “InvIT” or the “Issuer”), the road InvIT platform launched by KKR (the “Transaction” or the “Issue”). The Firm was involved in drafting, reviewing, commenting, negotiating, advising on legal issues/queries relating to the Issue and finalizing the debenture documents including the debt security trust deed, security documents, contractual comforts along with drafting of board resolutions, certificates and other necessary condition precedent documents in relation to the obligors and also coordinating with the clients for the same.
• Acted as legal advisers to investors comprising of ICICI Bank Limited, Yes Bank Limited and India Infrastructure Finance Company Limited with the private placement of up to 1,500 (one thousand and five hundred) senior, secured, rated, listed, redeemable, non-convertible debt securities having a face value of Rs. 10,00,000/- (Rupees Ten Lakhs only) each, aggregating up to Rs. 150,00,00,000/- (Rupees One Hundred and Fifty Crores only), in 2 (two) series of (i) up to Rs. 80,00,00,000 (Rupees Eighty Crores only); and (ii) up to Rs. 70,00,00,000 (Rupees Seventy Crores only) by way of private placement by Virescent Renewable Energy Trust (the “InvIT”). The Firm was engaged in drafting, reviewing, negotiating and finalizing the debenture documents including the debt security trust deed, security documents, contractual comforts along with drafting and finalizing the condition precedent documents required for the issuance.
• Advised ICICI Bank Limited (as the arranger), India Infrastructure Finance Company Limited, SBI Mutual Fund and Nippon India in connection with the private placement of up to 6,500 non-convertible debt securities aggregating to INR 650,00,00,000 in 2 series by Highways Infrastructure Trust (the “InvIT”), the road InvIT platform launched by KKR and also ICICI Bank Limited, State Bank of India and Axis Bank Limited in connection with availing of rupee loan facilities aggregating to INR 800,00,00,000 by the InvIT.
• Advised and acted for consortium of lenders comprising of Axis Bank Limited, ICICI Bank Limited, IndusInd Bank Limited, Aditya Birla Finance, Bank of Maharashtra and L&T Finance Limited  (collectively “Lenders”) in connection with financial assistance availed by Oriental Infra Trust (“OIT”) from IndusInd Bank Limited and L&T Finance Limited aggregating up to INR 13,500.00 Million inter-alia for the purpose of acquisition of 100% stake in Biaora to Dewas Highway Private Limited (“Acquired Entity”) and onward lending by OIT to the Acquired Entity to partly refinance its existing debt.
• Acted for and advised ICICI Bank Limited, India Infrastructure Finance Company Limited, Axis Bank Limited and State Bank of India (the “Lender”) in connection with rupee loan facilities of INR 1900,00,00,000 (the “Facility”) availed by Highways Infrastructure Trust (the “InvIT”), the road InvIT platform launched by KKR. The Firm acted as the Transaction counsel and was involved in drafting, reviewing, commenting, negotiating, advising on legal issues/queries relating to the Facility and finalizing of the financing and security documents including drafting, negotiating and finalization of financing documents for on-lending by the InvIT to the SPVs and drafting of board resolutions, certificates and other necessary condition precedent documents in relation to the obligors and also coordinating with the clients for the same.
• Acted for and advised consortium of lenders comprising IndusInd Bank Limited, ICICI Bank Limited, Aditya Birla Finance Limited, India Infrastructure Finance Company Limited, Axis Bank Limited and National Bank for Financing Infrastructure and Development (collectively “Lenders”) in connection with financial assistance sanctioned to Oriental Infra Trust (acting through its trustee, i.e. Axis Trustee Services Limited) (“Borrower” / “InvIT”), aggregating up to INR 45483 Crore for the purpose of partly refinancing its existing secured indebtedness and onward lending to its subsidiaries inter alia to partly refinance such subsidiaries’ existing debt.
• Advised a consortium of lenders comprising of Canara Bank, National Bank for Financing Infrastructure and Development, India Infrastructure Finance Company Limited, Bank of India, Union Bank of India and Bank of Maharashtra (the “Lenders”) in connection with availing of rupee loan facilities aggregating to INR 6,390,00,00,000 (Rupees Six Thousand Three Hundred and Ninety Crores only) by IRB Infrastructure Trust.
• Advised consortium of lenders comprising ICICI Bank Limited, Yes Bank Limited and India Infrastructure Finance Company Limited with the private placement of up to 1,500 (one thousand and five hundred) senior, secured, rated, listed, redeemable, non-convertible debt securities having a face value of Rs. 10,00,000/- (Rupees Ten Lakhs only) each, aggregating up to Rs. 150,00,00,000/- (Rupees One Hundred and Fifty Crores only), in 2 (two) series of (i) up to Rs. 80,00,00,000 (Rupees Eighty Crores only); and (ii) up to Rs. 70,00,00,000 (Rupees Seventy Crores only) by way of private placement by Virescent Renewable Energy Trust.
• Advised ICICI Bank Limited (as the arranger), India Infrastructure Finance Company Limited, SBI Mutual Fund and Nippon India in connection with the private placement of up to 6,500 non-convertible debt securities aggregating to INR 650,00,00,000 in 2 series by Highways Infrastructure Trust (the “InvIT”), the road InvIT platform launched by KKR and also ICICI Bank Limited, State Bank of India and Axis Bank Limited in connection with availing of rupee loan facilities aggregating to INR 800,00,00,000 by the InvIT.