Shardul Amarchand Mangaldas & Co. advises Manappuram Finance Limited on the update of its existing Euro Medium Term Note Programme

May 21, 2024

Shardul Amarchand Mangaldas & Co. advised Manappuram Finance Limited on updating their USD 750 million Euro Medium Term Note Programme and issuance of senior secured notes (under the Reserve Bank of India’s guidelines governing External Commercial Borrowings) of a principal aggregate amount of USD 300 million. The notes will be listed on the Global Securities Market section of India International Exchange (IFSC) Limited (India INX). The transaction involved Barclays Bank PLC and Citigroup Global Markets Limited as the original dealers and arrangers, DB Trustees (Hong Kong) Limited as the trustee and Catalyst Trusteeship Limited as the security trustee.

The deal was led by Shubhangi Garg (Partner) with assistance from Himanshu Malhotra (Principal Associate), Lidia Kharmih (Associate) and Apoorva Tyagi (Associate). Gouri Puri (Partner) and Nimish Malpani (Senior Associate) assisted with analysis on tax aspects.