JSA, Khaitan & Co, Linklaters and Squire Patton Boggs have counselled parties involved in an update of IIFL Finance’s USD1 billion secured global medium-term note programme.
Khaitan & Co acted for IIFL Finance on the update. JSA advised JP Morgan Securities, The Hongkong and Shanghai Banking Corporation and Standard Chartered Bank in their capacities as arrangers and dealers.
“This is one of the initial major deals under the revised ECB framework – thus, we need a fresh look at some of the existing practices, both in terms of structuring and drafting. Working with seasoned professionals from the company as well as the bankers is always exciting, with steep learning curves,” said Arka Mookerjee, a partner at JSA, who co-led the transaction team with colleague Soumitra Majumdar.
Majumdar added, “This sector has been subject to a lot of regulatory scrutiny. We leverage our deep sector expertise to distil the actual risks and formulate appropriate mitigants and disclosures. Working collaboratively for achieving successful closure, while ensuring compliance and investor protection, is the hallmark of our practice, and this was no exception.” The JSA capital markets team comprised partner Pracheta Bhattacharya, with the assistance of associate Aditya Sureka, while the banking and finance team included principal associate Deboshree Mukherjee.
The updated programme provides IIFL Finance with a platform to periodically issue notes in the international debt capital markets.
The Khaitan & Co deal team comprised partners Manisha Shroff, Ashish Mehta and Sneh Shah; principal associates Rajshekhar Upadhyaya and Ujjval Gangwal; senior associate Nikunj Mehta; and associates Charul Lunia, Nandini Arya, Shivansh Jain and Pal Jain.
Squire Patton Boggs and Linklaters acted as international counsel for IIFL Finance.
IIFL Finance is one of India’s leading non-banking financial companies, offering a diversified portfolio of lending and financial products, including gold loans, home loans, business loans, microfinance, and capital markets finance solutions.
