LE Desk

New Delhi, June 20, 2022: L&L Partners has acted asthe lenders’ legal counsel for three separate consortiums of banks led by the State Bank of India, in relation to financial assistance in the form of term loan facilities and working capital facilities made available to Hindustan Urvarak and Rasayan Limited, the Law Firm has said.

The Firm was involved in drafting, negotiating and finalizing all financing and security documents and advising and assisting on completion of closing formalities, it said in a press statement. 

The L&L team comprised of Partner, Aniket Sengupta, and Associates Samarth Sharma and Aditya Bhayal.

The purpose of the above mentioned transactions isfinancing the construction and development of threenatural gas-based urea manufacturing complexes situated in Barauni (Bihar), Sindri (Jharkhand) and Gorakhpur (Uttar Pradesh) each with a urea capacity of 3850 tons per day and ammonia capacity of 2200 tons per day including financing the cost overrun and working capital component of the Projects.

Hindustan Urvarak & Rasayan Limited is a joint venture between NTPC Limited, Indian Oil Corporation Limited, Coal India Limited, Fertilizer Corporation of India Limited, and Hindustan Fertilizer Corporation Limited.

This transaction involved the financing of all three Projects with a total manufacturing capacity of 11550 tons per day for urea and 6600 tons per day for ammonia, the statement said. 

The Law Firm also said it has advised and acted for ICICI Bank Limited in connection with financial assistance sanctioned to Rajiv Chowk-Sohna Highway Private Limited.

The purpose of the transaction is re-financing part of existing secured indebtedness of the borrower company availed in relation to six-laning and strengthening of NH-248A from existing 2.740 km(Rajiv Chowk) to 11.682 km in Gurugram under NHDP Phase-IV, in the State of Haryana (Length – ~8.942 km), on design, build, operate and transfer – hybrid annuity model of the National Highways Authority of India.

The Firm assisted on structuring of the transaction, negotiating, finalization and execution of the financing documents. The transaction team consisted of Partner Girish Rawat, Senior Associate Varun Chauhan and Associate Himanshi Bhadoria, the press statement said.

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