Apollo has subscribed to $500 million investment-grade, rated, senior secured, privately placed notes issued by ATSOL Global IFSC Limited, a step-down subsidiary of Adani Energy Solutions Limited.

Trilegal advised Apollo on this transaction.

The Trilegal Capital Markets team advising on the matter was led by Richa Choudhary (Partner) and comprised Maitreya Rajurkar (Partner), Avanti Kale (Counsel), and Associates Siddhant Mishra and Srishti Multani.

The Trilegal Corporate team advising on the matter was led by Kunaal Shah (Partner) and comprised Namesha Singh (Counsel).

The Trilegal Projects team was led by Neeraj Menon (Partner) and comprised Kaneeka Mehta (Counsel) and Arsh Jha (Senior Associate).

The Trilegal Disputes teams were led by Vishrov Mukerjee (Partner), Siddharth Ranade (Partner), and Janmali Manikala (Partner), and comprised Nishi Bhankharia (Counsel) and Yashaswi Kant (Counsel), and Associates Anumeha Smiti, Snehal Upadhyay, and Gaurav Jain.

The transaction was undertaken through an innovative GIFT City-based financing framework, leveraging a global treasury centre structure. This is one of the first ever transactions to utilise such a structure and marks an important milestone in the evolution of financing solutions emerging from GIFT City.

The proceeds from the notes issuance will be utilised by ATSOL Global IFSC towards the refinancing of existing indebtedness and funding capital expenditure requirements.

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