MUMBAI and NEW DELHI, January 10, 2019 /PRNewswire/ --
Cyril Amarchand Mangaldas (CAM) advised HDFC Bank, the sole arranger for issuance of Non-Convertible Debentures (NCDs) by Aqua Space Developers Private Limited (Aqua Space Developers). The issuance will be largely used to refinance the existing debt of Aqua Space Developers, availed for the construction of its 17.80 acres residential project 'My Home Bhooja' in Hyderabad, Telangana.
The Financing practice of Cyril Amarchand Mangaldas advised on due diligence, structuring, drafting, negotiating and finalising of the transaction documents. The Transaction team was led by Amey Pathak, Partner; and included Abir Dey, Principal Associate; Madhur Verma, Associate; Pratiek Samantara, Associate; and Aroop Das, Associate.
As a part of the Transaction, Aqua Space Developers issued unlisted and secured non-convertible debentures (NCDs) for an amount aggregating to INR 750 Crores. HDFC Bank was the sole arranger and the debentures were subscribed by fund houses ("Investors").
The parties and advisors involved in the Transaction included Catalyst Trusteeship Limited (debenture trustee for the Investors) and HDFC Bank (sole arranger).
The debenture trust deed and other debenture documents were executed on December 26, 2018 and are expected to be closed by January 31, 2018 subject to necessary approvals.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the values going back 100 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co., whose pre-eminence, experience and reputation of almost a century has been unparalleled in the Indian legal fraternity. Tracing its professional lineage to 1917, the Firm of Cyril Amarchand Mangaldas is now the largest full-service law firm in India, with over 650 lawyers including 100 partners, and offices in India's key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.
The firm, Cyril Amarchand Mangaldas, was awarded the flagship country award as being the "Most Innovative National Law Firm of the Year - India for 2018" at the IFLR Asia Awards, 2018, having also been successful in winning the prestigious & coveted "National Law Firm of the Year, 2018 for India" at the Chambers Asia-Pacific Awards, 2018. The firm was also voted as the "Employer of Choice for 2018" from India, by the Asian Legal Business, now 4 years in a row, building upon the several awards that the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. had won in the past.
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