A four-bank consortium has provided working capital facilities of ₹30.5 billion (US$450 million) to Alstom Bharat Forge Power. The consortium was led by State Bank of India and included IDBI Bank, Axis Bank and ICICI Bank.
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Lex Favios advised the consortium on the loan. The firm was involved in drafting, vetting and negotiating the facility agreement, inter-creditors agreement, authority letters, security trustee agreement, deed of hypothecation, indenture of mortgage, omnibus counter guarantee for bank guarantee, indemnity for letter of credit, and other miscellaneous undertakings on behalf the consortium. The team was led by Rupul Jhanjee, head of banking and finance, and associate Varun Narad.
Luthra & Luthra advised Alstom Bharat Forge.
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