CAM acts for SBI on 15,727 crores transaction with Jindal Steel
CAM acts for SBI on 15,727 crores transaction with Jindal Steel
Cyril Amarchand Mangaldas advised the State Bank of India concerning a transaction between SBI and Jindal Steel Odisha Limited (JSOL), a wholly-owned subsidiary of Jindal Steel & Power Limited (JSPL).
This was in relation to the financial assistance of INR 15,727 crores proposed by SBI to JSOL to set up 6 MTPA integrated steel plant situated at Angul, Odisha (the 'Project'). This is one of the largest project financing transactions undertaken in the steel sector to date.
The Project & Project Finance Practice of Cyril Amarchand Mangaldas was led by Amey Pathak, Partner & Co-Head Banking and Finance; Yash Jain, Partner; with support from Arkoday Roy, Principal Associate, along with Soumya Khurana, Associate, who advised SBI on the Transaction.
Other Parties and Advisors to the transaction included SBI Capital Markets Limited (Acted as Consultant to SBI).
The Transaction documents were executed on 1 June 2022 and the closing is expected to occur within this financial year upon the satisfaction of the conditions precedent.
