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Deal: Issuance of secured foreign currency convertible bonds (“FCCBs”) by Paisalo Digital

03 Jan 2025

Issuance of secured foreign currency convertible bonds (“FCCBs”) by Paisalo Digital

Trilegal acted as the Indian legal counsel in connection with the maiden issuance of secured foreign currency convertible bonds (“FCCBs“) by Paisalo Digital Limited (“Issuer“). The Issuer has raised the first tranche of USD 50 million through the issuance of FCCBs. The FCCBs are secured by a first ranking exclusive charge (via hypothecation) over the Issuer’s identified loan assets, including all receivables thereunder.

The issuance is the first ever issuance of FCCBs by Paisalo Digital Limited, and it is executed in compliance with applicable external commercial borrowings guidelines prescribed by the Reserve Bank of India. The Issuer saw good participation from global fixed income funds and prominent international credit funds.

The funds raised through the FCCB issuance is to fuel the enhancement of the Issuer’s vision of empowering India’s vast under-banked population through accessible and inclusive financial solutions.

The Banking and Finance Team advising on the matter was led by Partner Joseph Jimmy and comprised Counsel Tania Chourasia and Associate Yajat Bansal

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 M&A Firm of the Year by IFLR Asia-Pacific 2024; Best Overall Law Firms by India Business Law Journal (IBLJ) 2024; Innovative Lawyers Asia-Pacific by Financial Times (FT) 2024; Law Firm of the Year by Deal Volume by VCCircle Awards 2024; India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; Best Law Firms to Work by Vahura 2022; Firm of the year for Client Service Excellence by Asia Law Awards 2021.

For more information, please get in touch with Anoop Siddak Singh Tuli | Mob: +91-9535377422 | BD@trilegal.com

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