Khaitan & Co advises L&T Finance credit facility extension

Khaitan & Co advised L&T Finance in relation to an extension of a credit facility for an amount up to INR 570 crores ($89m) to Nirmal Lifestyle Developers Private for the purpose of (i) redemption of certain listed non-convertible debenture issued by Nirmal Lifestyle and (ii) financing of residential and commercial project, being joint developed by Nirmal Lifestyle and L&T Asian Realty Project, at Mulund, Mumbai.

L&T Finance Holdings is a NSE and BSE listed company and conducts its financial services businesses through various subsidiaries.

L&T Financial Services is the brand name of L&T Finance Holdings.

Gahan Singh (partner), Jhinook Roy (senior associate) and Arjun Bhattacharya (associate) represented the client on the transaction.