Cyril Amarchand Mangaldas acted in relation to the issuance of Non-Convertible Debentures (NCDs) by Kerala Financial Corporation, a body corporate incorporated under the State Financial Corporations Act of 1951 and owned by the Government of Kerala for an aggregate amount of INR 750 crore, raised in two separate series of issuance. As part of the transaction, Kerala Financial Corporation issued senior, secured, rated, listed, redeemable, taxable, non-convertible debentures under the Kerala Financial Corporation Debenture Series I 2023 for an aggregate amount of INR 476.50 crore (Series I NCDs), and Kerala Financial Corporation Debenture Series II 2023, for an aggregate amount of INR 273.50 crore (Series II NCDs).
The Banking and Structured Finance Practice of Cyril Amarchand Mangaldas advised the investors of the NCDs, acting through the arrangers to the issuances of the NCDs, with respect to the issuances, including in relation to the process for private placement and listing of the NCDs. The transaction team was led by Leena Chacko, Partner; with support from Srinjoy Bhattacherjee, Principal Associate; Shivendra Shukla, Associate; and Hrishikesh Bhise, Associate.
The transaction leg with respect to the Series II NCD issuance was closed on 10th May 2023.
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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 160 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.
