Cyril Amarchand Mangaldas (CAM), advised in relation to the USD 300 million fundraising by GMR Hyderabad International Airport Limited (GHIAL). CAM acted as the Indian legal advisors to the Joint Global Coordinators and to Initial Purchasers consisting of Citigroup Global Markets Inc., HSBC Limited, Axis Bank Limited, Merrill Lynch (Singapore) Pte. Ltd., J.P. Morgan Securities plc and YES Bank Limited
The Financing and Capital Markets Practices of Cyril Amarchand Mangaldas advised the Joint Global Coordinators and to Initial Purchasers on the Transaction. The team was led by Ajay Sawhney, Partner; Pranav Sharma, Partner; Anjana Menon, Senior Associate, Mallika Chawla, Associate.
As a part of the Transaction, GHIAL has raised funds by way issue of 5.375% senior secured notes (Notes) aggregating to USD 300 million which will be due in 2024. The Notes have been be listed on Singapore Exchange Securities Trading Limited (SGX-ST).
The other and advisors involved in the Transaction included Citi Group (Joint Global Coordinator); The Hongkong and Shanghai Banking Corporation Limited (Joint Global Coordinator); Milbank LLP (International legal counsel to the Joint Global Coordinators); and Shearman & Sterling LLP (International legal counsel to the Issuer).
The Offering Memorandum was signed on April 03, 2019 and the deal closed on April 10, 2019.