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A Goldman Sachs-led group of investors has pumped Rs 1,300 crore into GVK’s airport development unit that could help the company tide over upcoming debt repayments. Goldman Sachs has invested in nonconvertible debentures (NCDs) of the group’s airport holding company, which houses its 50.5 percent stake in MIAL.
Some of the funds will be used to replace loans taken by the Hyderabad-headquartered company from Yes Bank and HDFC Bank, reported ET.
Cyril Amarchand Mangaldas acted for GVK and the team was led by Partner L Viswanathan.
Talwar Thakore & Associates advised Goldman Sachs and the team was led by Partner Rituparno Bhattacharya along with Associates Archana Rawat, P Shankar, Uzma Naseem, Ganesh Gopalakrishnan, Aishwariya Sundar, and Yashika Jain.
Link Legal advised Yes Bank and HDFC and the team was led by Partner Siddharth Srivastava.
US and Hong Kong-based hedge funds and Dalmia Group Holdings, an investment vehicle that belongs to the Dalmia Group, have also participated as co-investors.