Cyril Amarchand Mangaldas (CAM) were the principal advisers on a INR20.79 billion financing facility from a State Bank of India-led (SBI) consortium of lenders to fund a Ramayapatnam Port Development Corporation (RPDC) project.
CAM advised Andhra Pradesh Urban Infrastructure Asset Management Limited, RPDC and the Andhra Pradesh Maritime Board on the transaction.
Partner Yash Jain led the CAM team, with assistance from principal associate Madhur Verma and associate Janani Chandrasekaran.
The financing facility will be used to fund the construction and development of a greenfield port with total berth capacity of 34 million tonnes per annum at Ramayapatnam.
The transaction agreement was signed on 6 September 2022 and it will close within this financial year.