Cyril Amarchand Mangaldas Advises in Relation to USD 100 mn Tier 2 Capital Raised by RBL Bank from United States International Development Finance Corporation

Cyril Amarchand Mangaldas acted as the legal counsel to United States International Development Finance Corporation (DFC) in relation to USD 100 million Basel III compliant note issued by RBL Bank to DFC, for augmenting its Tier 2 capital.

The Project & Project Finance Practice of Cyril Amarchand Mangaldas advised and assisted DFC on structuring the transaction, issuing a USD denominated note under the RBI Basel III guidelines, and negotiation and execution of transaction documents. The transaction was led by Ramanuj Kumar, Partner; Aditi Misra, Partner; with support from Ragini Agarwal, Associate.

As a part of the Transaction, RBL Bank has issued an unsecured and subordinated Basel III compliant Tier 2 Note amounting to USD 100 million to DFC.

Other Parties and Advisors to the transaction included Mayer Brown International LLP (acted as Offshore Counsel to United States International Development Finance Corporation) and Khaitan & Co. (acted as legal counsel to RBL Bank Limited).

The Transaction was signed on 29^th April 2022; and closed on 13^th May 2022.

About Cyril Amarchand Mangaldas

Cyril Amarchand Mangaldas (CAM) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm’s generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With over 850 lawyers and 150 Partners, the Firm is the largest full-service law firm in India with offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, and also in Singapore.

Recently, the Firm received “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. In 2021, Firm received “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards.