Khaitan & Co advised RattanIndia Power
Khaitan & Co advised RattanIndia Power
Khaitan & Co advised on the transaction structure, reviewing, negotiating, finalizing, supervising, assisting in drafting, and completing the documents.
Khaitan & Co has acted as legal advisors to RattanIndia Power Limited in relation to the issue of 1,02,500 rated, unlisted, secured, redeemable non-convertible debentures and availing of a rupee term loan of Rs.100 crores. (collectively, the ‘facilities’).
The debentures have a face value of Rs. 1,00,000 each, aggregating up to Rs. 1,025 crores. The facilities were extended/subscribed, amongst others by Kotak Strategic Situations India Fund II and Kotak Private Credit Fund, managed by Kotak Investment Advisors.
These were utilized towards, inter alia, refinancing of existing indebtedness of the company held through Aditya Birla ARC. It is one of the first few cases of refinancing of debt held through an ARC, which stepped in to give an exit to the banks in 2019 to save the company from going into insolvency.
Khaitan & Co advised on the transaction structure, reviewing, negotiating, finalizing, supervising, assisting in drafting, and completing the documents.
The core team of the law firm comprised Rolwine Alva (Partner), Riya Agicha (Principal associate), and Saumya Agarwal (Associate).
