Majmudar, Herbies issue $280m FCCBs for Essar Shipping

Tuesday, 7 September 2010 By Legally India Finance

Majmudar & Co and Herbert Smith have assisted port infrastructure company Essar Shipping Ports & Logistics Limited in launching their foreign currency convertible bonds (FCCBs) issuance of $280m last month.

The firms advised on the domestic and international law aspects respectively.

Majmudar partner Akil Hirani led the team consisting of head of compliance Anup Khanna and associates Anthony Toppo and Kashish Bhatia.

Herbert Smith on the other hand drafted in London partners Dina Albagli and Martina Asmar.

“The scope of our work included drafting of the offering circular for listing of the convertible bonds on the Singapore stock exchange, liaising with the lead manager and English law counsels, carrying out legal due diligence, and drafting, vetting and finalizing the transactional documents,” said Majmudar.

The issuance involves $280m of 5 per cent convertible bonds with different maturities. Bonds worth $150m will mature in 2015 and the remainder in 2017.

Essar Shipping Ports & Logistics is a leading Indian logistics services provider with investments in ports and terminals, logistics services, sea transportation and oilfield drilling services.

The company recently restructured its operations.

Photo by runner310

Comments

Anonymous guest 7 Sept 2010, 23:44

+1 -0

i will never allow hs to set up an office in india. muahahahaah.
- evil family law firm owner.

Anonymous guest 8 Sept 2010, 01:41

Gr8 2 c Majmudar in d news after some time..

Anonymous guest 8 Sept 2010, 22:36

Can Majmudar & Co please clarify the governing law for the "transactional documents" which they "drafted, vetted(!?) and finalized"?

Anonymous guest 8 Sept 2010, 22:54

After DSK, Majmudar is the best place to start your career.

Anonymous guest 9 Sept 2010, 02:26

+2 -0

"drafting, vetting and finalizing the transactional documents"....I dont understand this statement...if I am drafting a document, do I also vet it??? Vet what I have drafted??? beats me !!

Anonymous guest 9 Sept 2010, 02:28

@4 So in how many firms have you started your career, that you could come up with such an authoritative statement?

Anonymous guest 9 Sept 2010, 18:05

@6.. Sirji.. I have heard it from my friends and have reasons to believe it.. I am sure that you too believe in some things, without actually seeing it or testing it (sometimes Courts order for such testing) . Hope you get it..

Anonymous guest 9 Sept 2010, 19:14

@5 i believe u shld read it as: (a) drafted certain documents, (b) vetted other documents (other than (a)), and (c) finalised all documents (both (a) and (b))..

Anonymous guest 10 Sept 2010, 23:10

bhatia saab..way to go!!!

Commenting is closed for this article.