Luthra and Luthra advised ICICI Bank Limited and Yes Bank Limited

Luthra and Luthra advised ICICI Bank Limited and Yes Bank Limited

Luthra and Luthra recently advised ICICI Bank Limited and Yes Bank Limited (the "Arrangers") in connection with the private placement of up to 500 secured, rated, listed, redeemable, non-convertible debt securities aggregating up to INR 50,00,00,000 (Rupees Fifty Crores) by Virescent Renewable Energy Trust (the "InvIT") (the "Issue").

The Firm was involved 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 Issue.

The Firm was also engaged in drafting, reviewing and finalizing of the information memorandum in connection with the bond issuance. The Firm advised the parties on execution and other formalities with respect to the debenture documents including on creation and perfection of security and also provided advice on various aspects under Indian law in relation to the Issue.

The Firm's Banking and Finance team comprised of Karan Mitroo (Partner) and Pragya Verma (Associate).