Cyril Amarchand Mangaldas (CAM) advised GMR Visakhapatnam International Airport (GMR) on financing of Bhogapuram International Airport by way of a rupee facility of INR 3,215 crore from a consortium of 5 banks/financial institutions led by India Infrastructure Finance Company Limited. The proceeds of the loan will be utilized towards construction and development of Phase – I of Bhogapuram International Airport, which will cater to 6 million passengers annually.
The Project Finance Practice of Cyril Amarchand Mangaldas advised on the transaction. Transaction team was led by Ajay Sawhney, Partner; Bhupendra Verma, Partner; with support from Aditya Pandey, Principal Associate- Designate; Ashish Jain, Associate; and Nikhil Gupta, Associate.
The deal was signed on 7th December 2023 and closed on 8th December 2023. ____________________________________________
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 170 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
