Linklaters together with Indian firms Khaitan & Co and Juris Corp have acted on a US$500m financing deal for the Indian telecom sector.

The funding deal is part of the high-profile auction of India's state-owned 3G and BWA spectrums, valued at approximately US$2.85bn. The transaction involved US$500m in external commercial borrowings (ECB) – a part of the financing required to fund the recently acquired pan-Indian Broadband Wireless Access (BWA) spectrum. The acquisition, completed in July, was made after a successful bid at the telecoms asset auction held by the Government of India.

A Khaitan team led by recent White & Case lateral hire, Shishir Mehta, was retained by Reliance Industries and Infotel Broadband Services.

Linklaters partner Phillip Badge and counsel Aditya Shroff acted for lender RBS as to UK law while Sonali Sharma, a partner from Juris Corp, advised the bank on local law.ALB

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