31 Juli 2024
Linklaters advises on Piramal Finance's issuance of US$300m senior secured sustainability notes under the US$1bn Secured Euro Medium Term Note programme in India
Linklaters acted as sole international counsel to dealers of the issuance of 7.80% US$300m senior secured sustainability notes due 2028, with a tenor of 3.5 years, under the US$1bn Secured Euro Medium Term Note programme (EMTN) of Piramal Capital and Housing Finance Limited (Piramal Finance), the financial services and housing finance wholly owned subsidiary of non-banking financial firm Piramal Enterprises. The programme is listed on the India International Exchange, India’s first international exchange.
This marks Piramal Finance's first issuance in the international capital market, providing the company access to a new pool of liquidity and diversifying its funding sources, complementing funds available through banks and Indian domestic capital markets.
The proceeds from the issuance will be used to fund social projects, including affordable housing, MSME business loans, priority sector loans, and microfinance. The bonds are aligned with Piramal Finance's Sustainable Finance Framework, which is based on the International Capital Market Association's Social Bond Principles.
The Linklaters capital markets team was led by Partner and Head of India Practice Amit Singh, with support from counsel Xunming Lim, managing associate Cherrylene Lee, and associates Alwyn Loy and Louis Chew.
Linklaters has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to create novel solutions, supporting clients are they look to maximise investment opportunities.
This marks Piramal Finance's first issuance in the international capital market, providing the company access to a new pool of liquidity and diversifying its funding sources, complementing funds available through banks and Indian domestic capital markets.
The proceeds from the issuance will be used to fund social projects, including affordable housing, MSME business loans, priority sector loans, and microfinance. The bonds are aligned with Piramal Finance's Sustainable Finance Framework, which is based on the International Capital Market Association's Social Bond Principles.
The Linklaters capital markets team was led by Partner and Head of India Practice Amit Singh, with support from counsel Xunming Lim, managing associate Cherrylene Lee, and associates Alwyn Loy and Louis Chew.
Linklaters has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to create novel solutions, supporting clients are they look to maximise investment opportunities.
