Khaitan & Co advised HDFC Bank Limited on INR 500 crore rupee facility to Maiva Lifesciences and Maiva Pharma
The Leading law firm india,Khaitan & Co advised HDFC Bank Limited (“Lender”) on the grant of a facility aggregating to INR 500 crores (“Rupee Facility”), with a non-fund based sublimit in the form of a letter of credit facility (“LC Facility”) as a sub-limit of the Rupee Facility (together, the “Facility”), to Maiva Lifesciences Private Limited (“Borrower”) and Maiva Pharma Private Limited (“Co-Borrower”) (together, the “Borrowers”).
The Facility is proposed to be utilized exclusively for the purpose of part financing the project cost or reimbursement of the estimated project cost incurred by the Borrower, and towards making payments to the LC beneficiaries in relation to the purchase/import of goods and services by the Borrower, pertaining to a greenfield project for manufacturing sterile injectables.
The Facility is secured, inter alia, by a charge over identified assets of the Borrowers.
The Khaitan & Co team consisted of Arijit Sarkar (Partner), Chirag Gohil (Senior Associate), Siddhant Shetty (Senior Associate) and Charul Lunia (Associate).
Click to know more about Khaitan & Co
If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at [email protected] or call us on +91 8879634922.