Cyril Amarchand Mangaldas acted as the Indian Legal Counsel to Credit Suisse (Singapore) Limited, the dealer manager in the restructuring of the foreign currency convertible bond (the FCCBs) pursuant to an exchange offer undertaken by Videocon Industries Limited. The exchange offer was of USD 100,000 each in aggregate nominal value of USD 200,000,000 6.75% convertible bonds due 2015 (the Existing Bonds) with (a) USD 50,000 in aggregate principal amount of USD 97,200,000 4.30 per cent. convertible bonds due 2020 (the Exchange Bonds) and (b) a cash amount equal to USD50,000 plus an amount in cash (in U.S. dollars) equal to accrued interest.
The Cyril Amarchand Mangaldas team which advised the Credit Suisse (Singapore) Limited was led by Mumbai based capital markets partner Gaurav Gupte.
Linklaters and Baker & McKenzie.Wong & Leow acted as English law adviser to Credit Suisse (Singapore) Limited and Videocon Industries Limited respectively, with the closing date (date of allotment of Exchange Bonds) being December 30, 2015.
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