Deal Closed | Kotak Mahindra Bank Limited | Rupee term Loan Facility to Powerica Limited

The details of the deal  are as follows:

Sector: Wind 

Completion Date: 30-Nov-2020 

Name of Client: Kotak Mahindra Bank Limited 

Kotak Mahindra Bank Limited provides banking and financial services to corporate and individual customers in India. It operates through Treasury, BMU, and Corporate Centre; Retail Banking; Corporate/Wholesale Banking; Vehicle Financing; Other Lending Activities; Broking; Advisory and Transactional Services; Asset Management; and Insurance segments. 

Deal Description: Khatan acted as Lender's legal counsel in relation to the rupee term loan of INR 200 crore to be provided by Kotak Mahindra Bank Limited to Powerica Limited for the purpose of among others, application of proceeds towards repayment of existing letter of credit issued for the Project and reimbursement to the Borrower of amounts paid towards the retirement of the said letter of credit in relation to its 50.6MW capacity wind energy power plant located at Bhatel, Gujarat 

Total Consideration: INR 200 crore (USD 28 million) 

Team Members: Siddharth Srivastava (Partner), Kanika Kadam (Principal Associate), and Raunak Rahangdale (Senior Associate) 

Role of Firm: Khaitan acted as Lender's legal counsel