TT&A advised the arrangers on a USD 160 million financing to Global Infrastructure Partners (“GIP”) for its acquisition of Tower Vision India.  The transaction involved a bespoke structure in which facility was availed by a GIP special purpose vehicle based in Singapore and on-lent to an Indian operating entity of GIP by way of non-convertible debentures, similar to a dual bond structure. The proceeds of the NCDs were used to acquire majority control in Tower Vision India. The structure allowed GIP to leverage its existing portfolio company for a bolt-on acquisition.

TT&A Team: Sonali Mahapatra & Nidhi Rani – Partners and Swetha Vadarevu – Senior Associate