Khaitan & Co (the “Firm”) acted as legal advisors to JSW Paints Ltd (“Issuer”), part of the JSW Group, in relation to its acquisition finance and maiden issuance of listed, rated, unsecured, redeemable, non-convertible debentures aggregating to INR 3,300 crores (“NCDs”). The proceeds of the NCDs are proposed to be utilised towards, inter alia, funding the acquisition of shares of Akzo Nobel India Ltd by the Issuer. The NCDs are rated AA- with a stable outlook by ICRA Ltd and are subscribed by inter alia MUFG Bank, Ltd., GIFT Branch, Mizuho Bank Ltd., Singapore Branch, JP Morgan Chase Bank, N.A., Barclays Merchant Bank (Singapore) Ltd, Sumitomo Mitsui Banking Corporation and DBS Bank Ltd.
The deal was assisted by:
Corporate & Commercial: Shishir Vayttaden (Partner), Abhishek Dadoo (Partner), Sharad Abhyankar (Partner), Ishan Johri (Partner), Surbhi Ajitsaria (Principal Associate) and Harishankar Raghunath (Associate); Jayantika Khanna (Principal Associate); Saranya Mishra (Senior Associate) and Preksha Diwakar (Associate)
Funds: Divaspati Singh (Partner)
Corporate Restructuring: Mehul Shah (Partner)
Privacy and Data Protection: Ishan Johri (Partner)
Competition / Antitrust: Anisha Chand (Partner) and Alisha Mehra (Principal Associate)
Banking & Finance: Rajshekhar Upadhyaya (Principal Associate) and Siddarth Goel (Senior Associate)
The deal structuring, documentation and overall co-ordination on the transaction were spearheaded by Manisha Shroff (Partner) and Arijit Sarkar (Partner), supported by Anushka Sinha (Senior Associate), Akshansh Sharma (Senior Associate), Khushboo Damakia (Associate), and Priyam Indurkhya (Associate).