JSA Advocates & Solicitors (JSA) advised R.A.K. Ceramics India Private Limited (“RAK India”) on their issuance of senior, secured, rated, listed, redeemable, non-convertible debentures (“NCDs”) on a private placement basis. Trust Investment Advisors Private Limited were the arrangers to the issue with First Abu Dhabi Bank PJSC and Mashreqbank PSC subscribing to the NCDs as anchor investors.
JSA acted as the transaction counsel and assisted with respect to the drafting, negotiation, and execution of the financing documents, ensuring legal and regulatory compliance.
The JSA team worked collaboratively with the stakeholders located in multiple jurisdictions ensuring the timely and precise closure of documentation and all conditions precedent, enabling successful execution of the deal.
RAK India is a wholly owned subsidiary of RAK Ceramics PJSC, which is one of the largest ceramics brands in the world. The proceeds from the NCDs are to be used for general corporate purposes and certain identified capital expenditure.
The JSA Finance team was led by Anish Mashruwala, Partner, with support from Srinjoy Bhattacherjee, Partner; Swarna Hardikar, Senior Associate; Simrann Venkkatesan, Senior Associate and Madhur Bhatt, Associate.
Anish is the current Co-Chair of the Finance Practice at JSA and heads the Banking & Finance group. He also focuses on Cross Border Investments & Acquisitions.