Dhir & Dhir Associates advises new lenders (REC and IREDA) on Suzlon Group’s refinancing of existing facilities (SBI led consortium)
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Dhir & Dhir Associates have advised the Lenders, REC Limited and IREDA, on the sanction and disbursement of term loan of approx..INR4,053 Crore to Suzlon Energy Limited and its Subsidiaries. With the disbursement of the said facility, REC Limited and IREDA Limited have substituted a consortium of sixteen lenders (led by State Bank of India).
The firm, in its role as the Lenders’ Legal Counsel, carried out legal due diligence of the Borrower Group, drafted and negotiated the financing and security documents, and has also provided legal advice on crucial matters pertaining to the transaction.
The core team at Dhir & Dhir Associates, representing the New Lenders, comprised of Purusharth Singh (Partner), Humera Niyazi (Senior Associate), Nikhil Gupta (Associate), Anurag Mawai (Associate) and Raman Choudhry (Associate). The Borrower Group was led by their General Counsel Anoop Khatry who negotiated the transaction documents for closure.