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Aditya Bhargava

Partner
Mumbai

Mr. Aditya Bhargava, a partner based in the Mumbai office of Phoenix Legal, is primarily involved in the banking and finance, and the debt capital markets practices (DCM) and structured finance practices of the firm. He regularly advises a diverse clientele which includes Indian and foreign banks and financial institutions, funds, investors, issuers, arrangers, and companies in the financial sector as well as in sectors such as manufacturing and healthcare, on a wide range of financing matters including cross border financings, structured finance, plain vanilla and syndicated rupee term loans, ECB facilities, ODI facilities, APSA trades, project finance, acquisition financing, trade finance, distressed assets, payments and cash management, subscription to debentures (secured, unsecured, and subordinated) and preference shares, and securitization transactions. On transactional matters, he also assists in cross-border M&A, foreign exchange, infrastructure, and general corporate matters. He was also seconded as legal counsel to ANZ in Mumbai for 1 year to assist the branch set-up team enabling the re-entry of ANZ into India after receipt of in-principle approval from the RBI.

  • Advising various financial sector entities on their simultaneous NCD issuances as part of India's first collateralised bond obligation structure wherein the NCDs issued by each of the entities were secured by the receivables of the respective issuer. The NCDs were also secured by way of partial guarantees from two independent third party guarantors to credit enhance the NCDs. This transaction has been awarded the India Deal of the Year 2014 by the India Business Law Journal.
  • Advised Commerzbank on a syndicated lending to an overseas branch of a large Indian public sector bank.
  • Acted as transaction legal counsel in connection with various securitisation issuances (including multi-originator issuances) with the underlying pool being micro-loans originated by various micro finance institutions arranged by IFMR Capital and Vivriti Capital.
  • Advised ICICI Bank on INR 20 billion facilities to a major electricity producer in Western India for financing its debt service requirement in relation to facilities availed for construction, operation and maintenance of 4000 MW Ultra Mega Power Project.
  • Advising a foreign portfolio investor (FPI) on a collateralised loan obligation structure wherein a pool of SMEs simultaneously issued NCDs to the FPI, and the FPI simultaneously subscribed to the aforementioned NCDs debentures, all of which were supported by a subordination from the existing lender of the SMEs. This is a scalable structure and has been utilised for a repeat transaction by the FPI.
  • Advised HDFC Bank Limited on facilities to project concessionaires for construction of solar photo voltaic power plant at Rajasthan, India and Gujarat, India.
  • Advised HDFC Bank Limited on facilities in relation to the construction and establishment of hospitals in Indore, Surat, Jaipur Rajasthan, and Ahmedabad in the states of Gujarat, Rajasthan and Madhya Pradesh in India.
  • Advised HDFC Bank Limited on facilities in relation to the purchase of existing operating fuel farm infrastructure assets and capital expenditure to be incurred for the construction of new fuel farm facilities at the Chhatrapati Shivaji International Airport Mumbai.
  • Advised ICICI Bank on the financing of the two laning of 92.20 km long Chhapra – Gopalganj section of NH-85 from km 0.00 to km 94.70 in the State of Bihar to be executed as BOT Annuity on Design, Build, Finance, Operate and Transfer (DBFOT) pattern under Phase III of the national highway development programme for a period of 15 years, undertaken by a large East India based infrastructure conglomerate.