Cyril Amarchand Mangaldas advises on the debt availed by Piramal Critical Care Inc from SBI, Axis Bank and HSBC

11 Nov 2022 , 03:40 PM

Business Wire India

Cyril Amarchand Mangaldas advised State Bank of India, London Branch, Axis Bank Limited, IFSC Banking Unit (IBU) GIFT City Branch and HSBC, USA N.A., for debt aggregating up to USD 225 million, availed by Piramal Critical Care Inc for the purposes of repayment of existing debt availed by the Piramal Critical Care Inc, being supported by a guarantee from its Indian parent, Piramal Pharma Limited.
 
The Project & Project Finance Practices of Cyril Amarchand Mangaldas advised for State Bank of India, London Branch, Axis Bank Limited, IFSC Banking Unit (IBU) GIFT City Branch and HSBC, USA N.A. for the transaction. The transaction team was led by Subhojit Sadhu, Partner; with support from Nishtha Gupta, Principal Associate; and Antariksh Karnik, Associate.
             
Other Parties and Advisors to the transaction included State Bank of India – London Branch (acted as lender), Axis Bank Limited, IFSC Banking Unit (IBU) Gift City Branch (acted as lender), HSBC BANK USA N.A (acted as lender), Piramal Critical Care Inc (acted as borrower), Piramal Pharma Limited (acted as guarantor), Piramal Healthcare INC (acted as parent entities), Allen & Overy LLP, Singapore (acted as international law firm for lenders).
 
The transaction was signed on September 21, 2022; and closed on September 25, 2022.

About Cyril Amarchand Mangaldas
 
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
 
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.