Deal Closed | Axis Bank Limited | Financial Assistance To Essel Dichpally Tollway Pvt Ltd

The details of the deals are as follows:

Sector: Banking and Finance 

Completion Date:12-Apr-2021 

Name of Client: Axis Bank Limited 

Deal Description: Acted as Lender's legal counsel in relation to the rupee term loan of INR 200 crore provided by Axis Bank Limited to Athaang Dichpally Tollway Private Limited which is a National Investment and Infrastructure Fund group company, for refinancing of the existing rupee term loan availed by Athaang Dichpally Tollway Private Limited towards the funding of four laning of Armur- Adloor Yellareddy section from km 308.000 km to 367.000 (approximately 60.225 km) of the Hyderabad- Nagpur section of NH-7. 

Total Consideration: INR 200 crore (USD 27.7 million) 

Team Members: Siddharth Srivastava (Partner), Harshit Khare (Principal Associate), Shobhit Batta (Associate), Udita Singh (Associate) 

Role of Firm: Negotiated the term sheet, and drafted, negotiated and finalised the financing documents in relation to financial assistance provided by Axis Bank Limited to Athaang Dichpally Tollway Private Limited. We have also advised the parties on routing of cash flows and payment of debt servicing through existing escrow arrangement during the interim period.

Other Legal Counsel: Cyril Amarchand Mangaldas (representing NIIF)