12 Sep 2023
Deal: First issuance of INR denominated, listed and unsecured green non-convertible debentures by Kerala Infrastructure Investment Fund Board
14 Aug 2023
14 Aug 2023
Trilegal represented Kerala Infrastructure Investment Fund Board (a statutory body and one of the largest Kerala State public sector undertakings) (KIIFB), debenture holders, and the arranger in connection with the first issuance of INR denominated, listed and unsecured green non-convertible debentures worth 300.02 Crore by KIIFB.
The non-convertible debentures are backed by a guarantee issued by the Government of Kerala.
This transaction was one of the largest rated green bond issuances by a State public sector undertaking in compliance with the SEBI guidelines for Green Debt Securities and supported by an unconditional and irrevocable Guarantee by the Government of Kerala.
The deal was innovative as it involved a repayment structure that required cash pool mechanism basis the petroleum cess and motor vehicle tax proceeds received by KIIFB pursuant to Kerala Infrastructure Investment Fund Act, 1999 and utilization of proceeds of corpus fund granted by the Government of Kerala (to KIIFB) in case of any shortfall.
The deal was led by Our Banking and Finance Partner Joseph Jimmy. They were supported by attorneys including Varsha Yogish (Senior Associate); Lalitha Nandula (Associate).
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About Trilegal
Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.
Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.
For more information, please contact:
Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com
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