Cyril Amarchand Mangaldas Advised JM Financial Products And Vodafone Idea Telecom Infrastructure On INR 3,300 Crore NCD Issuance

Cyril Amarchand Mangaldas advised JM Financial Products and Vodafone Idea Telecom Infrastructure on INR 3,300 crore NCD issuance

The leading law firm Cyril Amarchand Mangaldas advised JM Financial Products Limited (“JM/Arranger”), acting as the transaction advisor and exclusive debt arranger, and Vodafone Idea Telecom Infrastructure Limited (“Company”) in relation to the issuance and allotment of unlisted, unrated, secured and redeemable non-convertible debentures aggregating to INR 3,300 crore.

The issuance was undertaken to meet the payment obligations of the Company towards Vodafone Idea Limited, enabling the telecom operator to bolster its capital expenditure and support business growth. The firm provided comprehensive legal advisory services across the structuring, negotiation and execution phases of the transaction. This is the largest disclosed private credit deal in India’s telecom sector.

The CAM transaction was led by Subhojit Sadhu (Partner, Finance & Infrastructure; Director – CAM Middle East), with support from Apoorv Jain (Principal Associate), Mansi Jain (Associate), Srijeeta Chakraborty (Associate) and Dyuti Anand (Associate). Strategic inputs were provided by Yash Ashar (Senior Partner) and Amey Pathak (Partner, Head – Banking).

The CAM tax aspects of the transaction were advised by SR Patnaik (Partner, Head – Taxation) and Kunal Savani (Partner), with support from Bipluv Jhingan (Principal Associate), Shivam Garg (Principal Associate) and Vaibhav Zaveri (Consultant).

The CAM disputes-related aspects were advised by Srinivas Chatti (Partner), with support from Aishwarya Wagle (Principal Associate).

The CAM insolvency-related aspects were advised by Madhav Kanoria (Partner) and Surbhi Pareek (Partner), with support from Neha Shivhare (Principal Associate) and Tara Ranade (Associate).

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