Banking and Finance
Trilegal’s Banking and Finance practice is a well-regarded practice, advising lenders, borrowers, and financial institutions on high-value, complex domestic and cross-border transactions across structured finance, acquisition and project finance, and debt markets.
About Trilegal’s Banking and Finance Practice
Our Banking and Finance practice’s reputation as a market leader has been built on the foundation of an intuitive commercial understanding of what our clients want to achieve, the quality of our documentation, and our ability to competently deliver the right outcomes within tight timeframes.
Our Partners regularly advise clients on established as well as emerging products in a dynamic legal and regulatory environment. We provide a focused, pragmatic approach, with fee transparency, and highly effective, technology-driven transaction management.
We represent lenders and borrowers across a wide spectrum, covering sponsors and corporates. Our key clients include:
- Major domestic banks such as ICICI Bank, State Bank of India, and Axis Bank
- Foreign banks such as Standard Chartered Bank, Deutsche Bank, Citibank, Barclays, Nomura, and Rabobank
- Multilateral agencies such as IFC, US Exim Bank, and UK’s CDC Group
- Sponsors such as Brookfield and Blackstone
- Non-banking financial companies and offshore credit funds such as Edelweiss, SSG, Piramal Capital and Housing Finance, KKR, and Värde Partners
We work on a range of domestic and cross-border structured financing transactions with varied complexity, covering acquisition finance, project finance, private DCM, securitisation, and debt restructuring. This includes distressed investments, enforcement and winding up, advisory, regulatory, and mergers and acquisitions in the financial services sector.
Select Representative Experience/Clients
Our Partner expertise extends across key areas related to structured finance, term and syndicated loans, private placements of debt notes, and ECBs. Below is a list of some key clients we have advised on such matters
Trilegal’s experts advised CPC Group PLC on its subscription to pooled non-convertible debentures by several Indian microfinance institutions.
We acted as lender counsel for this pioneering transaction, one of the first pooled bond issuances in India, with partial credit enhancement by Northern Arc Capital Ltd.
Trilegal’s Banking and Finance team represented Piramal Capital Housing Finance Ltd. in their bid for the acquisition of Dewan Housing Finance Ltd (DHFL) under the Insolvency and Bankruptcy Code, 2016.
Our team advised on due diligence of DHFL’s lending portfolio and the implementation of the resolution plan, enabling the discharge of creditors in this first successful NBFC resolution under IBC.
Trilegal’s team of experts represented CG Power and Industrial Solutions Ltd. (CG Power) on debt restructuring.
Our work encompassed a resolution plan under RBI guidelines with State Bank of India acting as the lead bank, which included a change in management and debt settlement.
Our team represented REC Ltd. and Power Finance Corporation on a thermal power setup in Jharkhand, for a dedicated supply of electricity to the Government of Bangladesh.
Our work for this INR 10,000 crore facility, a first-of-its-kind power sector SEZ, included drafting finance documents, conducting diligence, and coordinating with international legal teams.
Trilegal’s Banking and Finance lawyers advised Oaktree in the acquisition of performing real estate loans from DHFL.
Our assistance encompassed transaction structuring and creating a legally compliant framework for an off-shore entity to benefit from recoveries related to residential real estate projects.
Advised a consortium of foreign banks as lenders and Duferco S.A. as buyer on a USD 700 million export advance deal with JSW Steel Ltd through an Advance Purchase and Supply Agreement.
We advised the lenders and assisted the global counsels in structuring the transaction. This was one of the largest trade finance deals in the steel sector.
Advised a consortium of lenders comprising 26 banks and financial institutions led by ICICI Bank Ltd. on multiple restructurings of Hindustan Construction Company Ltd. since 2012.
The restructurings have been done under various restructuring schemes of the Reserve Bank of India, including but not limited to CDR, S4A, and others.
Advised various investors in subscription of listed, secured, redeemable, non-convertible debentures issued by India Infrastructure Trust (a Brookfield group Infrastructure Investment Trust (InvIT)).
This is one of the largest debentures issuance transactions by value in India. We were involved in finalising the transaction documents and negotiating the matter on behalf of our clients. The transaction was complicated in terms of regulatory environment, cash flow mechanisms and security structures.
