Cyril Amarchand Mangaldas advised Manipal Hospitals on INR 53.10 billion NCD issuance
The leading law firm in India, Cyril Amarchand Mangaldas advised Manipal Hospitals Private Limited (“Issuer”) in connection with its issuance of listed, rated, non-convertible debentures on a private placement basis aggregating to INR 53,10,00,00,000 (“NCDs”).
The NCDs were subscribed by DBS Bank, Deutsche Bank, SMBC, MUFG Bank and BNP Paribas.
The proceeds of the issuance will be utilised by the Issuer to acquire Sahyadri Hospitals Private Limited (“Target”).
This landmark transaction demonstrates the depth of the Indian debt capital markets in financing large-ticket acquisitions and marks one of the largest acquisition financings in the Indian healthcare sector.
The Cyril Amarchand Mangaldas team was led by Pranav Sharma (Partner), Sangita John (Partner) and Hariharan Kumar (Partner), with assistance from Daksh Mehta (Associate), Renuka Nevgi (Associate) and Aniket Nighojkar (Associate).
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