TT&A advised investors in in non-convertible debentures issued for refinancing of a value of INR 8 billion by Magnite Developers Private Limited (a Solitaire Group entity) for the purpose of refinancing the existing indebtedness of various group entities, working capital requirement and general corporate purposes.
The deal involved refinancing of a set of cross-collateralised exposures of the group to an existing lender. The group is involved in development of several township projects in Pune and has exposures across two major lenders in respect of these townships.
TT&A Team: Rituparno Bhattacharya â Partner; Tanay Agarwal â Managing Associate; Kartik Jigyasi & Sounak Chakraborty – Senior Associate; Shubham Kumar & Shivani Iyer â Associates
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