Cyril Amarchand Mangaldas advises HDFC Bank Limited on advancing term loan facility to Gujarat State Petroleum Corporation Limited

December 11, 2020, Mumbai/Delhi: Cyril Amarchand Mangaldas acted as the legal counsel to HDFC Bank Limited (HDFC Bank) on advancing term loan facility to Gujarat State Petroleum Corporation Limited (GSPC).

The aggregate value of the term loan facility extended to GSPC is INR 589 crores. The term loan facility will be utilized by GSPC to refinance a portion of the existing debt payable to a consortium of term loan lenders.

The Cyril Amarchand Mangaldas team successfully executed this transaction.

The Transaction team was led by Mudit Shah, Partner; with support from Madhur Verma, Senior Associate; and Simran Chugh, Associate.

For this transaction, the financing documents were signed on November 27, 2020.