Khaitan & Co Advised Jayaswal Neco Industries Limited on Refinancing Of Debt

Khaitan & Co Advised Jayaswal Neco Industries Limited on Refinancing of Debt

Khaitan & Co, the leading law firm in India, acted as the legal adviser to Jayaswal Neco Industries Limited (“Company”) in relation to the refinancing of debentures of the Company held by funds managed by Kotak Alternate Asset Managers Limited, EAAA India Alternatives Limited, and Allianz Global Investors, with Vistra (ITCL) India Limited acting as the debenture trustee.

The refinancing was executed through issuance of unlisted, unrated, secured, redeemable, non-convertible debentures of an aggregate nominal value of INR 1,800 Crores on a private placement basis to a set of investors arranged by Tata Capital Limited, with Vistra (ITCL) India Limited acting as the debenture trustee. In addition, the Company also raised a working capital facility of INR 500 Crores from Kotak Mahindra Bank Limited.

As the legal advisor to the Company, the Firm worked on:

• Reviewing the due diligence report and addressing investor comments;
• Structuring the transaction;
• Reviewing, negotiating, revising, and finalizing the transaction documents as Company’s legal counsel;
• Supervising the completion of conditions precedent to the transaction with the investor; and
• Assisting in execution and advising on ancillary matters.

The Khaitan & Co 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).

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