Pipeline Infrastructure Limited and India Infrastructure Trust have issued fully paid up, secured, listed non-convertible debentures aggregating up to ₹6,452 crores to refinance the acquisition of one of India’s largest gas pipelines running from Kakinada in Andhra Pradesh to Bharuch in Gujarat across 1,480 kms.

The arrangers and initial subscribers to the transaction were Axis Bank Limited, Kotak Mahindra Bank Limited, Barclays Bank PLC, and ICICI Bank Limited.

Shardul Amarchand Mangaldas & Co advised Pipeline Infrastructure and India Infrastructure Trust.

The transaction team was led by Shubhangi Garg (Partner), Adheesh Agarwal (Senior Associate), Indraneel Godsay (Associate) and Charitha Karadagi (Associate).

Abhishek Parekh (Partner), Neelam Pathak (Partner) Arjun Menon (Senior Associate) and Aparna R (Associate) advised on certain corporate aspects of the deal.

Trilegal advised the arrangers on the legal aspects.

India Infrastructure Trust is an infrastructure investment trust sponsored by Brookfield Asset Management.

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