Firm Matters
BackKhaitan & Co acted as the legal adviser to Jayaswal Neco Industries Ltd (“Company”) in relation to refinancing of debentures of the Company held by funds managed by Kotak Alternate Asset Managers Ltd, EAAA India Alternatives Ltd and Allianz Global Investors with Vistra (ITCL) India Ltd acting as the debenture trustee.
The refinancing was done through issuance of unlisted, unrated, secured, redeemable, non-convertible debentures of an aggregate nominal value of INR 1800 Crores, on a private placement basis to set of investors arranged by Tata Capital Ltd with Vistra (ITCL) India Ltd acting as the debenture trustee. In addition, the Company also raised a working capital facility of INR 500 Crores from Kotak Mahindra Bank Ltd.
As the legal advisor the Company, the Firm has worked on the following: (i) Reviewing the due diligence report and addressing investor comments; (ii) Structuring of the transaction; (iii) Reviewing, negotiating, revising and finalizing the Transaction Documents as Company’s legal counsel; (iv) Supervising the completion of the conditions precedent to the transaction with the investor; and (v) Assisting in execution and advising on ancillary matters.
Deal Team
The core team consisted of Kumar Saurabh Singh (Partner), Rahul Chakraborti (Partner), Rolwine Alva (Partner), Riya Agicha (Principal Associate), Sarika Jhanwar (Senior Associate), Simran Upadhyaya (Associate), Kartikey Gaur (Associate) and Kartikeya Amitabh Mishra (Associate).
