Kochhar & Co. Advises REC Limited on INR 1171.17 Crore Credit Facility to Kannur International Airport Limited
October, 2024 - Mumbai, India
Kochhar & Co. is pleased to announce its role as legal advisor to REC Limited, a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power in India, in extending a significant credit facility of INR 1,171.17 crore (INR 11,712 million) to Kannur International Airport Limited, an unlisted public limited company promoted by the Government of Kerala. The credit facility is aimed at refinancing the airport's existing debt.
The firm provided comprehensive legal support throughout the transaction, including conducting due diligence, drafting and negotiating transaction documents, and overseeing the successful completion of all pre-closing and post-closing formalities.
The transaction was spearheaded by Banking & Finance Partner, Ms. Sharmil Bhushan, at Kochhar & Co.'s Mumbai office, with key assistance from Senior Associate, Ms. Jyoti Punjabi, and Associate, Ms. Avantika Rai.
