JSA advised and assisted State Bank of India, Union Bank of India, UCO Bank, Bank of Maharashtra and Indian Bank in connection with a secured term loan facility of INR 4296.60 Crore (“Facility”) extended to MSRDC Tunnels Limited (“MTL”), a wholly owned subsidiary of Maharashtra State Road Development Corporation Limited.
MTL has been awarded the concession, on design, build, finance, operate and transfer basis involving a blend of both annuity and toll models, for designing and constructing the missing link of the Mumbai Pune Expressway, as well as to augment the existing section of Mumbai Pune Expressway between Khalapur Toll Plaza and Khopoli Exit. This will reduce travel time by bypassing the congested and geometrically deficient Lonavala Ghat section of the existing Mumbai Pune Expressway. The Facility will be utilised for part- financing this Project.
The deal value of the transaction is USD 580.43 Million.
JSA team comprised Lead Partner – Dina Wadia, Partner – Soumitra Majumdar, Senior Associates – Abhay Agarwal and Shrijita Bhattacharya, Associate – Sounak Chakraborty, and Junior Associate – Zahan Kalyaniwala.
Abhay specializes in Insolvency & Restructuring, Banking & Finance and Financial Services. He has extensive experience in advising lenders, resolution professional and resolution application in insolvency and restructuring related matters.