Axis, ICICI Bank Refinance Hyderabad-Bengaluru Highway Debt; JSA Advises
Overview
Axis Bank and ICICI Bank have successfully refinanced debt tied to the Hyderabad-Bengaluru section of NH7 highway maintenance. JSA Advocates & Solicitors provided legal counsel on the transaction, which involves Devanahalli Tollway Private Limited, a unit of Cube Highways.
Stocks Mentioned
Banks Refinance Key Highway Debt
Axis Bank Limited and ICICI Bank Limited have completed a significant debt refinancing for the Hyderabad-Bengaluru section of National Highway 7. The deal covers the upgradation, operation, and maintenance of the road stretch from Km 534.72 to Km 556.84 in Karnataka.
Legal Counsel Provided
JSA Advocates & Solicitors acted as the legal advisor for both Axis Bank and ICICI Bank on this complex transaction. The firm's team was spearheaded by Partners Karan Mitroo and Kartikeya Dubey, supported by Pragya Verma and Harsh Dugar. Their expertise was crucial in navigating the financial and legal intricacies of the deal.
Project Background
The highway project itself is managed under a design, build, finance, operate, and transfer (DBFOT) model. Devanahalli Tollway Private Limited, an entity operating under the Cube Highways group, is the implementing body for this infrastructure development.
