Cyril Amarchand Mangaldas Acted As Legal Counsel For IndusInd Bank In Rupee Term Loan Facility To Montecarlo Sinnar Shirdi Highway
Cyril Amarchand Mangaldas Acted as Legal Counsel for IndusInd Bank in Rupee Term Loan Facility to Montecarlo Sinnar Shirdi Highway
Cyril Amarchand Mangaldas acted as legal counsel for IndusInd Bank Limited ("Lender") in connection with a rupee term loan facility for an amount aggregating to INR 399,89,00,000. This loan was provided by the Lender to Montecarlo Sinnar Shirdi Highway Private Limited ("Borrower").
The purpose of the loan is to refinance the existing facilities availed by the Borrower and to repay sponsor subordinated debt. This financing is related to the four-laning of the Sinnar to Shirdi section of NH 160, from design chain: Km 0/000 to Km 50/943 (including Sinnar Bypass) in the state of Maharashtra.
The project is being executed on a design, build, operate, and transfer basis under a hybrid annuity model. This is done under a concession agreement executed between the Borrower and the National Highway Authority Limited ("NHAI").
The transaction at Cyril Amarchand Mangaldas was led by Ajay Sawhney, Partner & Head - Northern Region; Bhupendra Verma, Partner; with the support from Aditya Prakash, Principal Associate; Tushar Kumar, Associate; Anoushka Chauhan, Associate; and Tushmi Udyalak, Associate.
The transaction was signed on 12th August 2024 and was closed on 4th September 2024.
