Khaitan & Co Advised Investors On INR 5900 Crore NCD Issuance By GMR Airports Limited
Khaitan & Co advised investors on INR 5900 crore NCD issuance by GMR Airports Limited
The leading Indian law firm, Khaitan & Co, advised Deutsche Bank AG, Morgan Stanley, JP Morgan, Barclays Bank Plc, Tata Capital, Aditya Birla Capital, Trust Investments, and other investors (“Investors”) in relation to their subscription to the listed, non-convertible debentures (NCDs) aggregating to INR 5900 crores issued by GMR Airports Limited. The issuance was completed in two tranches—INR 1500 crores under Tranche 1 and INR 4400 crores under Tranche 2—undertaken inter alia for refinancing its existing debt.
Morgan Stanley India Company Private Limited acted as sole arranger and structuring advisor to Tranche 1. Barclays Bank Plc, Deutsche Bank AG, and Trust Investments acted as arrangers to Tranche 2, while JP Morgan acted as sole structuring advisor to Tranche 2.
The Khaitan & Co team representing the Investors comprised Ashwin Bishnoi (Partner), Prateek Desai (Partner), Kartikey Gautam (Principal Associate), Sonalika Ahuja (Senior Associate), and Ashwin Balaji S (Associate).
Additionally, Manisha Shroff (Partner), Rajshekhar Upadhyaya (Principal Associate), and Aparna Arya (Senior Associate) advised Morgan Stanley and Barclays Bank Plc as the arrangers.
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