Trilegal advised Power Finance Corporation on INR 10,578.67 Million NCD Issue
The leading law firm in India, Trilegal advised Power Finance Corporation Limited and the lead managers in relation to the public issue of non-convertible debentures and zero-coupon bonds aggregating to INR 10,578.67 million. The issuance was undertaken under the overall shelf limit of INR 100,000 million.
Power Finance Corporation Limited is a Schedule–A Maharatna Central Public Sector Enterprise focused on providing financing solutions to entities operating in the power sector. The transaction is particularly significant as it marks the first-ever public debt issuance of zero-coupon bonds in India.
The proceeds from the issue are proposed to be utilized for onward lending and for financing or refinancing existing indebtedness of the company.
The syndicate of lead managers for the issuance comprised Nuvama Wealth Management Limited, A.K. Capital Services Limited, Trust Investment Advisors Private Limited, and Tipsons Consultancy Services Private Limited.
The Trilegal Capital Markets team advising on the transaction was led by Richa Choudhary (Partner) and Murtaza Zoomkawala (Partner), with support from Avanti Kale (Counsel), Aayush Khandelwal (Senior Associate), and Associates Siddhant Mishra, Shambuk Biswas, Nithyashree Venkataraman, Samruddhi Varma, and Sakshi Nalawade.
The Trilegal Corporate team advising on the matter was led by Ramakant Rai (Partner), with assistance from Shradha Sachdev (Counsel) and Drishti Kaushik (Associate).
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