S&P advises SBI on credit for Noida International Airport

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Saraf and Partners (S&P) advised the State Bank of India when it agreed to INR37.25 billion (USD501 million) in credit to Yamuna International Airport, a subsidiary of Zurich International Airport, for the development of the Noida International Airport.

Cyril Amarchand Mangaldas (CAM) advised Yamuna International Airport, while Swiss law firm MLL Meyerlustenberger Lachenal Froriep advised Zurich Airport International.

The financing agreements were executed on 10 August.

S&P’s team was led by partner Satadru Goswami, and included associates Aryadevi, Jinay Padh and Nikhil Issar. CAM’s team was led partner Ajay Sawhney and included principal associate Bhupendra Verma, senior consultant Henna Vadhera and associate Mayank Udhwani.

In November 2019, when Zurich Airport won the right to build and manage the airport in Noida under a 40-year concession, the company said the capital investments associated with the first phase were expected to total about CHF650 million (USD712 million).