Cyril Amarchand Mangaldas Advised Cerberus Capital Management And IFC On KRPV Fire Fite Private Limited Debenture Subscription

Cyril Amarchand Mangaldas advised Cerberus Capital Management and IFC on KRPV Fire Fite Private Limited Debenture Subscription

The Leading Law firm in India, Cyril Amarchand Mangaldas, through separate deal teams on a Chinese wall basis, acted as legal counsel for Cerberus Capital Management (“Cerberus”) and International Finance Corporation (“IFC”) in relation to their subscription to 16,000 unlisted, senior, secured, unrated, redeemable, non-convertible debentures issued by KRPV Fire Fite Private Limited (“Issuer”), aggregating INR 1,600 crore.

The Debentures were issued in two series:

• Cerberus, along with co-investors, subscribed to 13,000 Series 1 Debentures aggregating INR 1,300 crore.
• IFC subscribed to 3,000 Series 2 Debentures aggregating INR 300 crore.

The proceeds were utilized for the implementation of the resolution plan submitted by Independent Sugar Corporation Limited, a Bermuda-incorporated entity, in respect of Hindusthan National Glass & Industries Limited (HNG), as well as for HNG’s working capital and capital expenditure requirements.

The CAM Financing Team advising Cerberus comprised of Subhalakshmi Naskar (Partner, Co-Head - Projects/Infrastructure), Hariharan Kumar (Partner), Diptiman Mohapatra (Principal Associate), Rohil Deshpande (Senior Associate), Rishav Kashyap (Associate), Aniket Nighojkar (Associate).

The CAM Financing Team advising IFC comprised of Pranav Sharma (Partner), Uday Khare (Partner), Angira Chakraborty (Principal Associate), Divisha Jindal (Senior Associate), Aditya Saraswat (Senior Associate), Sanjna Mehrotra (Associate).

The CAM Insolvency Team advising Cerberus comprised of Dhananjay Kumar (Partner, Head - Insolvency & Restructuring), Surbhi Pareek (Partner), Neha Shivhare (Principal Associate), Aditya Pandey (Associate), Vinesh Chaudhary (Associate), Tara Ranade (Associate), Mansi Verma (Associate).

The CAM Insolvency Team advising IFC comprised of Uday Khare (Partner), Divisha Jindal (Senior Associate), Sanjna Mehrotra (Associate).

The CAM Corporate Team advising IFC comprised of Ravindra Bandhakavi (Senior Partner), Srabanee Ghosh (Partner), Radhika Shukla (Senior Associate), Ketan Jain (Associate), Rhea Prasad (Associate).

The CAM Competition Team advising IFC comprised of Dhruv Rajain (Partner), Ananya Mahant (Senior Associate).

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