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Khaitan & Co acted as the sole Indian legal advisers relating to tender offers to purchase for cash all or part of Vedanta Resources outstanding $774.77m, 6 per cent bonds due 2019 and $900m 8.25 per cent bonds due 2021 followed by a new fund raising pursuant to the offering of $1bn 6.125 per cent bonds due 2024.
The bond proceeds were used for the tender offer and refinancing.
This is also a new fund raising by way of US dollar bond issue under Reg 144A and Reg S.
Khaitan & Co acted as the sole Indian legal advisers in connection with the offer. The core transaction team included Manisha Shroff (partner), Oishik Bagchi (senior associate), Rolwine Alva (senior associate), Abhay Agarwal (associate), Meenakshi Kurpad (associate) and Juhi Bhat (associate) with assistance from the following:
Direct tax aspects: Daksha Baxi (executive director), Ritu Shaktawat (associate partner) and Surajkumar Shetty (principal associate).
Indirect tax aspects: Rashmi Deshpande (associate partner) and Anjali Krishnan (associate).
This is Vedanta’s second single-tranche G3 high yield bond issuance in 2017. Both the bond issuances are, respectively, the largest single-tranche G3 high yield bond issuances from Asia ex-Japan since 2015.
The post Khaitan & Co acts for Vedanta over refinancing deal appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.
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