OVERVIEW
We believe that modern business and commerce require banking solutions, especially on the legal side, which enable the achievement of nuanced commercial objectives rather than the delivery of advice that satisfies narrow theoretical boundaries. The wide-ranging experience of the partners of our banking and finance team enables us to customize solutions that marry strategies and tactics from one funding structure seamlessly into another.
We regularly work as legal counsel and provide advice on multiple funding structures such as project finance, acquisition finance, structured finance, securitization, bonds and debentures, working capital, factoring, etc. We also regularly advise on external commercial borrowings and trade finance products.
In addition to our experience, our banking and finance team has had experience working in-house at banks and corporates in India, working at debt funds and private lenders, and has been litigators. They also regularly participate in industry bodies and committees to assist in developing the law and best practices.
Our team works closely with our Insolvency & Restructuring team, our Projects, Infrastructure and Energy team, and our Disputes, Litigation and Enforcement team to provide comprehensive legal services to our clients.
Contact us today to learn more about how we can assist you with your banking and finance needs.
TESTIMONIALS
Saraf and Partners has a good turnaround time and the team has a good understanding of what is being asked of them.
They provide practical solutions to complex structures.
KEY PARTNERS
WORK HIGHLIGHTS
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Advised a consortium of lenders led by the State Bank of India, in their financing of around INR 28000 Crores (equivalent to approximately USD 3.4 billion) to Nagpur Mumbai Super Communication Expressway Limited, a special purpose vehicle established to construct, develop and operate a 6-lane access-controlled expressway along the Nagpur Mumbai corridor, known as the Maharashtra Samruddhi Mahamarg, considered one of the largest project finance transactions in India, with financial closure having been achieved in record time.
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Advised Adani Green Energy Limited in raising USD 1.35 billion construction finance facility from a consortium consisting of leading international banks including Standard Chartered Bank, Intesa Sanpaolo S.p.A, MUFG Bank, Sumitomo Mitsui Banking Corporation, Coöperatieve Rabobank U.A., DBS Bank Ltd., Mizuho Bank, Ltd., BNP Paribas, Barclays Bank PLC, Deutsche Bank AG, Siemens Bank GmbH and ING Bank N.V. for its under-construction renewable asset portfolio of solar and wind renewable projects in Rajasthan. The transaction is one of the largest revolving project financing deals to date in the renewable sector in Asia.
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Advised Indiabulls Housing Finance Limited in its securitisation and reinvestment in specific assets in its real estate portfolio to the tune of approximately INR 5000 crores (equivalent to approximately USD 607 million) in partnership with Oaktree Capital. The transaction involved significant structuring of rights linked to underlying real estate portfolio assets and tailoring of bespoke exits and redemption options for the investment by Indiabulls and Oaktree
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Advised LIC Housing Finance Limited as the Issuer and Catalyst Trusteeship Limited as the debenture trustee, in relation to the shelf issuance of up to 4,10,000 fully paid, senior, rated, listed, secured, redeemable, non-convertible debentures each having a face value of Rs. 10,00,000/- (Rupees Ten Lakhs only) aggregating to Rs. 41,000,00,00,000/- (Rupees Forty-One Thousand Crores only), on a private placement basis
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Advised Adani Electricity Mumbai Limited, in its maiden issuance US dollar denominated investment grade senior secured notes for an amount of USD 1 billion and in establishing their global medium term notes programme for USD 2 billion – the GMTN establishment was the first sustainability linked bond issue in India’s energy and utilities sector.
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Advised State Bank of India in relation to financing to the amount of INR 12,770 Crores (equivalent to approximately USD 1.56 billion) the development, implementation, setting up, construction, operation and maintenance of the greenfield international airport project at Navi Mumbai, Maharashtra. First approved by the Maharashtra government in July 2008, the Navi Mumbai International Airport is seen as a critical alternative to the existing airport in India’s financial capital, Mumbai.