Cyril Amarchand Mangaldas Acted As Lenders Legal Counsel To Asian Development Bank
Cyril Amarchand Mangaldas has acted as the lenders’ legal counsel to Asian Development Bank (“ADB”) in relation to the signing of definitive documents for subscription by ADB to unlisted, secured, unrated, redeemable, and interest-bearing non-convertible debentures, having a face value of INR 100,000 each, up to INR equivalent of USD 25,000,000 (United States Dollars Twenty-Five Million) in dematerialised form on a private placement basis, being issued by Vivriti Capital Limited, a non-banking financial company registered with the Reserve Bank of India (“Vivriti Capital Limited” or the “Issuer”).
The deal marks the first-of-its-kind issuance by a medium-sized NBFC in India, with the proceeds to provide finance for companies engaged in sectors including electric vehicles, solar and wind energy, and waste management.
The transaction team was led by Manasvini Raj, Partner; with support from Apoorv Jain, Principal Associate; and Saaz Bhatia, Associate. The diligence team was led by Manasvini Raj, Partner; with support from Apoorv Jain, Principal Associate; Saurabh Sharma, Associate; and Dhruv Agarwal, Associate.
Santosh Janakiram, Senior Partner, provided strategic inputs on the transaction.
The transaction was signed on 26th September, 2024, and closed on 18th October, 2024.