CMS INDUSLAW Advises Cyient Limited on USD 120 Million Secured Acquisition Financing for TAO Digital Solutions
CMS INDUSLAW advised Cyient Limited on a USD 120 million secured term loan facility arranged and underwritten by The Hongkong and Shanghai Banking Corporation Limited (HSBC) to finance Cyient’s acquisition of 100% of TAO Digital Solutions Inc., including related acquisition costs.
The financing supports Cyient’s strategic expansion of its digital engineering and technology capabilities, further strengthening its ability to deliver end-to-end solutions across the product and asset lifecycle for global customers.
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The transaction involved a complex cross-border acquisition financing structure with Catalyst Trusteeship Limited acting as Facility Agent and Security Agent. The deal also required coordination of various regulatory and transactional workstreams, including obtaining approval from the Competition Commission of India (CCI).
CMS INDUSLAW advised Cyient on all Indian law aspects of the financing, including the negotiation and execution of facility documentation, security creation and perfection, regulatory compliance, satisfaction of conditions precedent and conditions subsequent, and overall coordination between the lender and borrower workstreams.
The CMS INDUSLAW team was led by Abir Lal Dey (Partner), supported by Arnav Sinha (Senior Associate) and Khushi Sharma (Associate). Gaurav Dani (Founding & Senior Partner) provided strategic inputs on the transaction.
Baker & McKenzie.Wong & Leow (Singapore) and Talwar Thakore & Associates acted as legal counsel to the lenders. The Baker & McKenzie.Wong & Leow team comprised Weiling Lee, Kunal Katre, Cheung Winne and Sunethra Reddy, while the Talwar Thakore & Associates team included Sonali Mahapatra (Partner), Kartik Jigyasi (Managing Associate) and Tarun Doyal (Associate).
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