Power transmission firm Sterlite Power on Monday said it has raised Rs 200 crore in debt financing from Allianz Global Investors.

— The Economic Times

Allianz extended private credit to a Sterlite Power Group company in the form of their subscription to senior, secured, unrated, unlisted, non-convertible debentures aggregating up to Rs 200 crores on private placement basis. The proceeds of the Issue would be utilised towards repayment of existing loans and advances, for providing inter corporate deposit and general corporate purposes. The Issue is secured, inter alia, by first charge on current assets of the Issuer, pledge of shares of the Issuer.

Khaitan & Co advised Allianz Global Investors Singapore Limited led by a team of partner Manisha Shroff, principal associate Riya Bhattacharjee, senior associate Jessica Gandhi, associate Kratika Parashar, associate Pratibha Kedia, associate Shrooti Shukla, associate Siddhant Gajendra Shetty and associate Sonakshi Faujdar; partner Siddharth Srivastava, principal associate Kanika Kadam, senior associate Mohit Kishore and associate Udita Singh advised on due diligence of the project companies, partner Yigal Gabriel and associate Meherasp Mistry advised on the real estate aspect of the transaction and associate Aayush Thapar, associate Raashi Pathak and associate Shruti Gupta assisted on closing aspects.

2020-12-22

Deal value: USD 27.53 million

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