Firm Matters

Khaitan & Co advised Kolte-Patil Developers Ltd ("Issuer") on the private credit - inventory finance deal for phase I of a project named ‘Life Republic Sector R5/5th Avenue – Canvas’ ("Project") being developed by its subsidiary Kolte-Patil Integrated Townships Ltd (“KPITL”) wherein Marubeni Corporation, Japan ("Investor"), has invested an aggregate amount of INR 139.96 crores by way of subscription to fully secured, listed, rated, redeemable, non-convertible debentures (“Debentures”), issued on a private placement basis by the Issuer.

The proceeds of the Debentures shall be used towards the Issuer's general corporate purposes and construction and development of the Project. The Debentures are secured by way of a first ranking mortgage over certain identified units in the Project and the receivables arising of such identified units.