Talwar Thakore & Associates (TT&A), Shardul Amarchand Mangaldas & Co. (SAM) and Linklaters advised on IDFC FIRST Bank’s USD 950 Million Senior Notes Issuance.

IDFC FIRST Bank, acting through its IFSC Banking Unit in GIFT City, issued USD 600 million senior notes due 2029 and USD 350 million senior notes due 2031 through private placements under Regulation S. The notes are listed on the Vienna Stock Exchange, with secondary listing contemplated on NSE IX and/or India INX in GIFT City.

The transaction marked IDFC FIRST Bank’s maiden entry into the international debt capital markets and involved navigating Indian banking and IFSC regulations, as well as regulatory, tax and listing considerations across multiple jurisdictions.

Talwar Thakore & Associates advised IDFC FIRST Bank, acting through its IFSC Banking Unit, as the issuer in connection with the issuance of the USD 600 million senior notes due 2029 and USD 350 million senior notes due 2031.

The TT&A team included Partners Rahul Gulati and Priyanka Kumar, Senior Associate Shivani Iyer and Associate Shrijaya Singh.

Shardul Amarchand Mangaldas & Co. Advised BofA Securities, the placement agent, as Indian legal counsel in connection with the private placement of the USD 600 million 5.625% senior unsecured notes due 2029.

The SAM team included Partner Shubhangi Garg, Principal Associate Ankeeta Parhi, and Associates Gaurangi Pande and Neville Tata. Tax advice was provided by Partner Gouri Puri and Principal Associate Nimish Malpani, with strategic inputs from Partner Prashant Gupta.

Linklaters also advised BofA Securities as sole placement agent on IDFC FIRST Bank’s debut international dollar bond issuance.

The Linklaters team included Partners Amit Singh and Xunming Lim, and Calvin Cheng and Edward Lee.