Cyril Amarchand Mangaldas advises on the debt availed by Piramal Critical Care Inc from SBI, Axis Bank and HSBC

Cyril Amarchand Mangaldas advised State Bank of India, London Branch, Axis Bank Limited, IFSC Banking Unit (IBU) GIFT City Branch and HSBC, USA N.A., for debt aggregating up to USD 225 million, availed by Piramal Critical Care Inc for the purposes of repayment of existing debt availed by the Piramal Critical Care Inc, being supported by a guarantee from its Indian parent, Piramal Pharma Limited.

Mumbai (Maharashtra)/ New Delhi [India], November 11 (ANI/BusinessWire India): Cyril Amarchand Mangaldas advised State Bank of India, London Branch, Axis Bank Limited, IFSC Banking Unit (IBU) GIFT City Branch and HSBC, USA N.A., for debt aggregating up to USD 225 million, availed by Piramal Critical Care Inc for the purposes of repayment of existing debt availed by the Piramal Critical Care Inc, being supported by a guarantee from its Indian parent, Piramal Pharma Limited. The Project & Project Finance Practices of Cyril Amarchand Mangaldas advised for State Bank of India, London Branch, Axis Bank Limited, IFSC Banking Unit (IBU) GIFT City Branch and HSBC, USA N.A. for the transaction. The transaction team was led by Subhojit Sadhu, Partner; with support from Nishtha Gupta, Principal Associate; and Antariksh Karnik, Associate.

Other Parties and Advisors to the transaction included State Bank of India - London Branch (acted as lender), Axis Bank Limited, IFSC Banking Unit (IBU) Gift City Branch (acted as lender), HSBC BANK USA N.A (acted as lender), Piramal Critical Care Inc (acted as borrower), Piramal Pharma Limited (acted as guarantor), Piramal Healthcare INC (acted as parent entities), Allen & Overy LLP, Singapore (acted as international law firm for lenders). The transaction was signed on September 21, 2022; and closed on September 25, 2022.

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