L&L Partners advises ICICI bank, Axis Bank

LE Desk

New Delhi, December 21, 2021: L&L Partners recently acted for and advised ICICI Bank Limited and Axis Bank Limited, in connection with the financial assistance aggregating up to Rs 9.85 Billion to Poondiankuppam – Sattanathpuram Section Private Limited, a subsidiary of Oriental Tollways Private Limited.

The assistance is for part financing of the augmentation of the existing road from 67 km to 123.80 km on the Poondiankuppam- Sattanathpuram section of National Highway No. 45A (New NH-332) in Tamil Nadu by four-laning thereof on DBOT Annuity/ Hybrid Annuity basis.

The Firm acted as the lenders legal counsel and assisted the client in drafting, negotiation, finalization and execution of the financing documents and conducted due diligence on the Project, vetting of legal pre-commitment conditions and pre-disbursement conditions and issuance of a closing legal opinion on the financing documents, it said in a press statement.

The transaction team consisted of Girish Rawat (Partner), Ashneet Chhabra (Associate) and Himanshi Bhadoria (Associate), the Law Firm said.