JSA has counselled RAK Ceramics India (RAK India) on its issuance of senior redeemable non-convertible debentures (NCDs) on a private placement basis.
Partner Anish Mashruwala led the JSA finance team, with support from partner Srinjoy Bhattacherjee, senior associates Swarna Hardikar and Simrann Venkkatesan, and associate Madhur Bhatt.
Trust Investment Advisors acted as issue arrangers, while First Abu Dhabi Bank PJSC and Mashreqbank PSC were anchor investors.
JSA acted as transaction counsel, advising on the structuring, drafting, negotiation and execution of the finance documents, as well as ensuring compliance with all applicable legal and regulatory requirements.
The team worked closely with stakeholders across multiple jurisdictions to facilitate the timely completion of transaction documentation and satisfaction of all conditions precedent, enabling the successful execution of the financing.
RAK India is a wholly owned subsidiary of RAK Ceramics PJSC, one of the world’s largest ceramics brands. Proceeds from the NCD issuance will be used for general corporate purposes and capital expenditure requirements.
