JSA assists Kinetic Engineering Limited in FCCB settlement

Live Law News NetworkJ. Sagar Associates (JSA) advised and assisted Kinetic Engineering Limited (KEL) in relation to the settlement of its foreign currency convertible bonds (FCCBs) of US$ 18 million held by Pine Bridge Asia Partners II, L.P., AIA Singapore Private Limited and AIA International Limited.

JSA’s role included assisting KEL with the legal strategy and negotiations for the FCCB settlement as well as advising them on legal and regulatory issues in connection with the same.

As part of the FCCB settlement, KEL has allotted 23,40,499 equity shares to the FCCB holders in addition to a negotiated cash settlement.

The JSA team comprised of Partners, Aashit Shah, Varghese Thomas and Anish Mashruwala; Senior Associate, Pratik Pawar; and Associates, Ambiecka Pandit and Pallavi Banerjee.

AZB & Partners advised the FCCB holders.

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