REC Limited and IREDA disbursed a term loan of approximately ₹4,053 crore to Suzlon Energy Limited and its subsidiaries for refinancing its existing facilities.
Dhir & Dhir Associates have advised the Lenders - REC and IREDA on the legal due diligence of the Borrower Group, drafted and negotiated the financing and security documents, and provided legal advice on crucial matters pertaining to the transaction.
The core team comprised Purusharth Singh (Partner), Humera Niyazi (Senior Associate), Nikhil Gupta (Associate), Anurag Mawai (Associate), and Raman Choudhry (Associate).
Suzlon Energy was led by their General Counsel Anoop Khatry, who negotiated the transaction documents for closure.
With the disbursement of the said facility, REC Limited and IREDA Limited have substituted a consortium of sixteen lenders (led by State Bank of India).
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