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Cyril Amarchand Mangaldas Advised Financial Institutions On $1 Billion Sustainable Notes Programme By Piramal Capital And Housing Finance
![Subhojit-Sadhu-&-Aashima-Johur Subhojit-Sadhu-&-Aashima-Johur](https://www.legaleraonline.com/h-upload/2024/08/13/1333294-subhojit-sadhu-aashima-johur.webp)
Cyril Amarchand Mangaldas Advised Financial Institutions On $1 Billion Sustainable Notes Programme By Piramal Capital And Housing Finance
Cyril Amarchand Mangaldas (CAM) advised Financial Institutions namely Standard Chartered Bank, Deutsche Bank AG, Singapore Branch, Barclays Bank PLC, Citigroup Global Markets Limited, Emirates NBD Bank PJSC, and Axis Bank Limited, Singapore Branch (Managers) in relation to the establishment of U.S.$1,000,000,000 (United States Dollar One Billion Only) Euro Medium Term Note Programme (Programme) by Piramal Capital & Housing Finance Limited, a debt listed entity (Issuer) in the form of Senior Sustainability Notes.
The first issuance was made to raise an amount of U.S.$300,000,000 under the Programme (Notes) which are listed on the India International Exchange (IFSC) Limited (“India INX”) with further issuances to follow under the Tap Route. This Programme marks the maiden overseas bond issuance of Piramal Capital & Housing Finance Limited.
CAM provided essential guidance on structuring the deal to align the security packages for new note holders and existing creditors. Our firm ensured compliance with stock exchange notification requirements and facilitated the documentation process to support Piramal Group’s ongoing corporate restructuring and merger approvals.
The Project & Project Finance and Capital Markets team of Cyril Amarchand Mangaldas advised on the matter.
The transaction was led by Partner Subhojit Sadhu, with support from Principal Associate Apoorv Jain, and Associates Chahat Gupta, Yashpal Desai, and Sanyam Agarwaal.
Aashima Johur, Partner, led the capital markets-related aspects of the transaction, with support from Principal Associate Amitpal Singh, and Associates Nitesh Mishra and Anjini Ganguly.
Other parties and advisors to the transaction included Piramal Capital & Housing Finance Limited, issuer; Deutsche Bank AG, Singapore Branch, acted as deal manager; DB Trustees (Hong Kong) Limited, acted as trustee for note holders; Barclays Bank PLC, acted as deal manager for note holders; Citigroup Global Markets Limited, acted as deal manager for note holders; Axis Bank Limited, Singapore Branch, acted as deal manager for note holders; Emirates NBD Bank PJSC, acted as deal manager for note holders; Piramal Enterprises Limited, parent entity.
The transaction was signed on 28th June, 2024, and closing was done on 29th July, 2024.
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- #Piramal Capital and Housing Finance
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- #India International Exchange
- #Deutsche Bank
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- #Standard Chartered Bank
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- #Citigroup
- #Emirates NBD Bank
- #Axis Bank
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- #Legal Advisory
- #Debt Issuance
- #Piramal Group
- #Corporate Restructuring
- #Merger Approvals
- #Financial Institutions