TT&A advised Deutsche Bank AG, Singapore Branch, Société Générale and The Hongkong and Shanghai Banking Corporation Limited (the initial purchasers) in relation to the issue and sale of Reg S / Rule 144A USD 316.3 million 5.90% Senior Secured Notes due 2034 (the “Notes”) by Varanasi Aurangabad NH-2 Tollway Private Limited (formerly known as Soma Indus Varanasi Aurangabad Tollway Private Limited) (the “Issuer”). TT&A also acted as Indian law advisors to the hedge banks engaged by the Issuer in relation to the issue of Notes. 

This deal is a debut issuance for Roadis India group. The Issuer is the first Indian road concession company to raise US dollar-denominated debt in the international capital markets and to obtain investment grade rating by Moody’s and Fitch. The bond offering also received an overwhelming response from global investors. 

TT&A Transaction Team: Rahul Gulati & Priyanka Kumar – Partners; Uzma Naseem – Managing Associate; Nikita Agarwal – Senior Associate and Shivani Iyer – Associate 

TT&A Team that advised on Project related matters – Akshay Malhotra – Partner and Kush Saggi – Managing Associate