Khaitan & Co along with Talwar Thakore & Associates (TT&A) advised on JSW Paints Limited’s acquisition financing and maiden issuance of NCDs worth INR 3,300 crore.
The proceeds will be utilised towards the mandatory tender offer and acquisition of shares of Akzo Nobel India. The NCDs have been subscribed by MUFG Bank, Mizuho Bank, JP Morgan Chase Bank, Barclays, Sumitomo Mitsui Banking Corporation and DBS Bank.
This is a marquee deal in the acquisition finance space, and the acquisition of Akzo Nobel India Limited will make JSW Paints a significant player in the Indian paints market.
Khaitan & Co advised JSW Paints on its maiden issuance of listed, rated, unsecured, redeemable non-convertible debentures aggregating to INR 3300 crores.
The core team included Manisha Shroff, Arijit Sarkar, Anushka Sinha, Akshansh Sharma, Khushboo Damakia and Priyam Indurkhya, with assistance from Shishir Vayttaden (Acquisition and General Corporate), Abhishek Dadoo (MTO Advisory), Sharad Abhyankar (Corporate Governance), Divaspati Singh (Funds), Mehul Shah (Restructuring), Ishan Johri (Data Privacy) and Anisha Chand (Competition Law).
Talwar Thakore & Associates (TT&A) advised MUFG, Mizuho, JPMorganChase, Barclays, SMBC Group and DBS Bank, each as an anchor investor, in an INR 33,000,000,000 financing by way of INR denominated, senior, rated, listed and redeemable non-convertible debentures for JSW Paints Limited, for financing the acquisition of Akzo Nobel India Limited.
The TT&A Team included Partners Rahul Gulati & Rituparno Bhattacharya, Managing Associates Nakul Sonejee & Nikita Agarwal, Senior Associate Pallav Rathi, and Associates Adesh Sharma, Rajeev Dadhich & Kashish Agarwal.
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