Khaitan & Co acted as the sole transaction counsel and advised Credit Suisse Securities (India) Private Limited (Arranger) and Jammu and Kashmir Bank (Issuer) in relation to the issue of 9.25% Series A unsecured, listed, rated, redeemable non-convertible Basel III compliant, Tier II Bonds aggregating upto INR 500 crores by the Jammu & Kashmir Bank Limited, on a private placement basis, through the electronic bidding platform of BSE, for augmenting Tier II Capital and overall capital of the Bank for strengthening its capital adequacy and for enhancing its long-term resources. Manisha Shroff (Partner), Rolwine Alva (Senior Associate), Jessica Gandhi (Associate) and Dhwani Shah (Associate) represented the client on the transaction. Credit Suisse Group is a leading financial services company, advising clients in all aspects of finance, across the globe. J&K Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country. It is also the only private sector bank designated as RBI’s agent for banking business, and carries out the banking business of the Central Government, besides collecting central taxes for CBDT.
Gordon Dadds has announced it is to acquire another law firm, making it the fourth acquisition for the City outfit since listing publically last July.
The firm has taken on Bristol-based Metcalfes Solicitors for £2m, which will be paid in cash over a five-year period.