Shardul Amarchand Mangaldas advises Assetz Industrial Parks Private Limited in raising capital by issuance of secured, listed non-convertible debentures from Standard Chartered Bank (Singapore) Limited, Tor Asia Funds VCC – TOR ASIA TIFO and Tor Asia Credit Opportunity Master Fund II VCC

March 28, 2023

Shardul Amarchand Mangaldas advised Assetz Industrial Parks Private Limited in relation to raising capital by issuance of secured, listed non-convertible debentures in multiple tranches from Standard Chartered Bank (Singapore) Limited, Tor Asia Funds VCC – TOR ASIA TIFO and Tor Asia Credit Opportunity Master Fund II VCC (“Subscribers”). This was for the

purpose of development and construction of a warehouse and associated facilities allotted to the Issuer and Brit Logistics Private Limited on a lease basis by Karnataka Industrial Area Development Board. The deal was valued approximately at USD 3,51,42,907.80 and the expected date of closing was 26 December 2022.

This is a unique structured finance deal in the industrial warehousing segment in India whereby loans availed by overseas parent of the Issuer from TOR Investments (“TOR”) were used to fund the debenture subscription through the FPI route.

The Transaction team comprised Debashree Dutta, Partner; Arijit Sarkar, Principal Associate;  Nainesh Singh, Senior Associate;  Sanidhya Parashar, Associate.