L&L Partners advises ICICI Bank, NIIF Infra in separate deals

LE Desk

New Delhi, October 22, 2021: L&L Partners advised the Lead Arranger, ICICI Bank Limited, in relation to the issuance of listed senior secured non-convertible debentures aggregating to Rs 1,000 crore issued by  Adani Ports and SEZ Limited (APSEZ).

The said issue was oversubscribed by 2.5% times. The debentures are issued on a private placement basis under the recently promulgated SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 which came into force on the August 9, 2021, the Law Firm said in a press statement.

The L&L team was led by PartnerGirish Rawat, assisted by Senior Associate Sourav Padhi and Associate Ashneet Chhabra.

The NCS Regulations repealed the erstwhile SEBI (Issue and Listing of Debt Securities) Regulations, 2008, as amended, and consolidated 37 circulars issued by SEBI over the years into a single Operation Circular for Issue and Listing of Non-Convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper.

L&L Partners recently also acted for and advised NIIF Infrastructure Finance Limited in connection with the financial assistance aggregating up to Rs 2,200 million to TVS Industrial & Logistics Parks Private Limited for refinancing of indebtedness incurred /investments made in relation to the operating warehouses spread across four locations, namely Chakan (Maharashtra), and Vaipoor (Tamil Nadu), Hosur (Karnataka), and Bhubaneshwar (Odisha).

The L&L team was led by Partner Girish Rawat, assisted by Senior Associate Varun Chauhan and Associate Himanshi.