Michele Discepola

Michele has over a decade of experience advising issuers and underwriters on the full range of international capital markets transactions, including advising on high-yield and investment-grade debt offerings, offerings of equity-linked products, structured finance and exchange offers as well as liability management and restructuring exercises.

Work highlights

Michele has advised on many market-leading transactions, including having:

• ReNew Power Private Limited:

• advised the lead managers on the Reg S/Rule 144A issuance of US$325m 5.375% Senior Secured Notes due 2024 issued by special purpose vehicle, India Green Energy Holdings (IGEH), the proceeds of which were used by IGEH to subscribe to eleven series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by eleven subsidiaries of, and guaranteed by, ReNew Power.
• advised the lead managers on the Reg S/Rule 144A issuance of US$460m 4.0% Senior Secured Notes due 2027 issued by special purpose vehicle, India Green Power Holdings (IGPH), the proceeds of which were used by IGPH to subscribe to seven series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by seven subsidiaries of, and guaranteed by, ReNew Power.

• IRB Infrastructure Developers Limited: advised the lead managers on the Reg S/Rule 144A issuance of US$300m 5.5% Secured Notes due 2024 issued by special purpose vehicle, India Toll Roads (ITR), the proceeds of which were used by ITR to subscribe to rupee-denominated senior secured bonds issued by IRB Infrastructure Developers.
• Continuum Green Energy: advised Continuum Energy Levanter (Levanter), a special purpose vehicle and wholly-owned subsidiary of Continuum Green Energy, on its Reg S/Rule 144A issuance of US$561m 4.50% Senior Notes due 2027, the proceeds of which were used by Levanter to subscribe to seven series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by seven subsidiaries of Continuum Green Energy.
• Hero Future Energies Asia: advised Clean Renewable Power (Mauritius) Pte. Ltd. (CRP), a special purpose vehicle and wholly-owned subsidiary of Hero Future Energies Asia, on its Reg S/Rule 144A issuance of US$363m 4.25% Senior Notes due 2027, the proceeds of which were used by CRP to subscribe to eight series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by eight subsidiaries of Hero Future Energies Asia.
• Delhi International Airport Limited: advised the lead managers on the Reg S/Rule 144A issuance of US$450m 6.25% Secured Notes due 2025 issued by special purpose vehicle, Cliffton Limited (Cliffton), the proceeds of which were used by Cliffton to subscribe to rupee-denominated senior secured bonds issued by Delhi International Airport Limited.

Further work highlights

• ReNew Power Private Limited:

• advised the lead managers on the Reg S/Rule 144A co-issuance of US$525m 6.67% Senior Secured Notes due 2024 co-issued by eight subsidiaries of, and initially guaranteed by, ReNew Power - this was the first co-issuance transaction from India and one of the first out of Asia.
• advised the lead managers on the Reg S/Rule 144A issuance of US$475m 6.0% Senior Secured Notes due 2022 issued by special purpose vehicle, Neerg Energy Limited (Neerg), the proceeds of which were used by Neerg to subscribe to seven series of rupee-denominated, US$-settled, senior secured bonds issued (and cross-guaranteed) by seven subsidiaries of, and guaranteed by, ReNew Power.

• Azure Power Global Limited: advised Azure Power Solar Energy Private Limited (APSEPL), a special purpose vehicle and wholly-owned subsidiary of Azure Power Global Limited, on its Reg S/Rule 144A issuance of US$350m 5.65% Senior Notes due 2024, the proceeds of which were used by APSEPL to subscribe to ten series of rupee-denominated senior secured bonds issued (and cross-guaranteed) by ten subsidiaries of Azure Power Global Limited.

• Delhi International Airport Limited: advised the dealer managers/solicitation agents in connection with the offer to purchase for cash by Delhi International Airport Limited (DIAL) of its 6.125% Senior Secured Notes due 2022 (2022 Notes), together with a concurrent solicitation of consents by DIAL from holders of its 2022 Notes, its 6.125% Senior Secured Notes due 2026 and its 6.45% Senior Secured Notes due 2029 to seek the approval of certain proposed amendments to the respective indentures governing such Notes.

• Samvardhana Motherson Automotive Systems Group B.V.:

• advised the lead managers on the Reg S/Rule 144A issuance of US$300m 4.875% Senior Secured Notes due 2021 by Samvardhana Motherson Automotive Systems Group B.V.
• advised the lead managers on the Reg S/Rule 144A issuance of €300m 1.80% Senior Secured Notes due 2024 by Samvardhana Motherson Automotive Systems Group B.V.

• PT Agung Podomoro Land Tbk: advised the lead managers on the Reg S issuance of US$300m 5.95% Senior Notes due 2024 by PT Agung Podomoro Land Tbk.

• Press Metal Aluminium Holdings Berhad: advised the lead managers on the Reg S issuance of US$400m 4.30% Senior Notes due 2022 by Press Metal Aluminium Holdings Berhad.

• Minor International Public Company: advised the lead managers on both of Minor International Public Company Limited's Reg S issuances of Guaranteed Senior Perpetual Capital Securities, guaranteed by Bangkok Bank Public Company Limited.

Michele holds a Bachelor of Civil Law from the Université de Sherbrooke and a JD/MBA from the University of Toronto.

He is fluent in English and French and conversational in Italian.