BMR Legal is advising Indiabulls Housing Finance, one of India's largest mortgage lenders, on the issuance of its $200 million “masala” bonds on the Singapore Stock Exchange. Clifford Chance and AZB & Partners are representing the bookrunners.

The Clifford Chance team advising the bookrunners Axis Bank, Bank of America, Merrill Lynch, Citigroup, Credit Suisse, Nomura and Yes Bank was led by partner Rahul Guptan. Partner Matt Fairclough acted for Citicorp International as trustee for the noteholders. 

“Masala” bonds are Indian rupee-denominated bonds issued in offshore capital markets. This is only the fourth “masala” bond issued following the adoption of rules by the Reserve Bank of India that allowed for such bonds. 

 

Related Articles

Deals

A&O Shearman, CC, AZP, AHP guide Indonesia’s $2.35 bln global sukuk issue

by Nimitt Dixit |

Global law firms Clifford Chance and A&O Shearman and local law firms AZP Legal Consultants and Assegaf Hamzah & Partners (AHP) have advised on the issuance of Indonesia’s landmark $2.35 billion global sukuk.

Deals

CC acts on $870 mln HK telecom infra deal

by Hu Yangxiaoxiao 胡阳潇潇 |

Magic Circle law firm Clifford Chance has advised China Merchants Capital (CMC) on its $870 million investment for a 40 percent stake in the fibre assets of HKT Trust & HK, a subsidiary of Hong Kong telecom group PCCW.

Deals

CC, Paul Hastings lead on CR Beverages’ HK IPO

by Charlie Wu 吴卓言 |

Clifford Chance and Jingtian & Gongcheng are advising China Resources Beverages, the beverage division of the state-owned China Resources Enterprise, on its upcoming Hong Kong IPO, which is expected to raise up to $1 billion. Paul Hastings and Zhong Lun Law Firm are acting for the joint sponsors.