Trilegal advised Värde Partners on completing its exit from investment exposure to RattanIndia Power
The leading law firm Trilegal advised Värde Partners on completing its exit from its investment exposure to RattanIndia Power Limited (RIPL) through the sale of security receipts to RattanIndia Finance Private Limited.
Värde Partners was part of a consortium of investors in 2019 that implemented the restructuring and one-time settlement (OTS) of RIPL’s entire outstanding debt exposure through Aditya Birla ARC Limited. The original transaction for RattanIndia’s debt resolution was the largest OTS transaction in India and the first of its kind involving international credit funds such as Goldman Sachs and Värde Partners. It was also the first successful scheme to close under the RBI’s Prudential Framework for Resolution of Stressed Assets issued in June 2019.
Trilegal has advised Värde Partners on the entire lifecycle of the deal, involving phased exit from its investment exposure as well as the initial investment for funding ABARC through non-convertible debentures, which covered:
- i) Structuring of the original investment
- ii) Drafting and negotiations of the transaction documents
- iii) Deal execution
- iv) Closing assistance
The Trilegal team was led by Yogesh Singh (Partner), Ankush Goyal (Partner), and Aniruddha Sen (Partner), with support from Rohan Kohli (Senior Associate) and Shubh Arora (Associate).
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