Khaitan & Co Advised Kolte-Patil Developers Limited On Private Credit – Real Estate Inventory Financing

Khaitan & Co Advised Kolte-Patil Developers Limited on Private Credit – Real Estate Inventory Financing

The leading law firm in India,Khaitan & Co advised Kolte-Patil Developers Limited (“Issuer”) on a private credit inventory finance transaction for Phase I of the project named Life Republic Sector R5/5th Avenue – Canvas (“Project”), being developed by its subsidiary Kolte-Patil Integrated Townships Limited (“KPITL”). Marubeni Corporation, Japan (“Investor”), 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 utilised towards the Issuer’s general corporate purposes and for the construction and development of the Project. The Debentures are secured through a first-ranking mortgage over certain identified units in the Project and the receivables arising from such units.

The core team from Khaitan & Co comprised Manisha Shroff (Partner), Dipayan Dash (Counsel), Arjita Agarwal (Senior Associate), Nikunj Mehta (Senior Associate), Rishabh Kumar (Associate), and Shivansh Kumar Jain (Associate). Sharad Abhyankar (Partner) advised on corporate governance aspects.

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