Shardul Amarchand Mangaldas & Co Advises in Relation to Issuance and Subscription of Masala Bonds Worth Rs. 500 Cr by Zuari Cements, India to Heidelberg Cement AG

Shardul Amarchand Mangaldas & Co. acted as the transaction counsel in relation to the subscription by Heidelberg Cement AG (incorporated in Germany) to INR 500 Cr unlisted, unsecured Rupee denominated bonds issued by Zuari Cement Limited (a subsidiary of Heidelberg Cement AG).

Shardul Amarchand Mangaldas & Co advised as the Indian counsel and assisted Zuari Cement Limited with (i) structuring the issue and allotment of INR denominated rupee bonds overseas under Indian law, (ii) advising all parties on the transaction from an Indian legal and regulatory perspective; and (iii) review of transaction documents. The team was led by Ms. Shilpa Mankar Ahluwalia, Partner; and included Ms. Shubhangi Garg, Principal Associate; and Ms. Akshita Agrawal, Associate.

The parties involved in the transaction were Zuari Cement Limited (the issuer), Heidelberg Cement AG (the subscriber) and Standard Chartered Bank (the placement agent / arranger).

Other advisor to the transaction were Hengeler Mueller, Frankfurt acted as German counsel for Heidelberg Cement AG.

The transaction closed on 16 January, 2017.

About Shardul Amarchand Mangaldas & Co.

Founded in 2015, Shardul Amarchand Mangaldas & Co., is one of India’s leading law firms rated by International organisations, law directories and professional journals. As a full service law firm, it is renowned in the business community for its ability to enable business, its innovative solutions, its responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” with a legacy of 99 years.

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