SNG & Partners Advises on First Investment by Hulic-HDFC Capital Debt Platform
SNG & Partners has advised on the first investment deployed through the joint senior secured debt platform established by Hulic Co., Ltd., a Japanese listed real estate developer, in collaboration with HDFC Capital Advisors Limited (“HDFC Capital Advisors”), India’s largest residential real estate investment manager (the “Platform”). The Platform has been set up to provide senior secured debt financing for residential housing development projects in India. This inaugural transaction involves a marquee residential development project located in Western Mumbai, and the investment was effected by way of subscription to unlisted, secured, non-convertible debentures.
The investment was effected by way of subscription to unlisted, secured, non-convertible debentures. This transaction represents the Platform’s first deployment and involves a marquee residential development project located in Western Mumbai.
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SNG & Partners acted as the legal counsel to the investors and the debenture trustee, and has engaged in the drafting, reviewing, and negotiation of transaction documents and also on the cross-border aspects involved in the transaction.
Amit Aggarwal (Managing Partner – Corporate & Non-Contentious Practice) provided strategic inputs on the transaction with Aditya Vikram Dua (Partner, Head of Financial Services), Aniket Sawant (Associate Partner), Kartikeya Rao (Associate) and Sonali Nagariya (Associate) forming the core transaction team.
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