Shardul Amarchand Mangaldas & Co. Advises in Blackstone and Mphasis in Raising USD 500 MN Funds

Source: NewsVoir | Published on 30th June 2017, 5:30 PM | NewsVoir |

Shardul Amarchand Mangaldas advised Blackstone (Marble II Pte. Limited, which is the promoter of Mphasis Limited, a listed Indian company) as to matters of Indian law, in relation to the USD 500 Million high-yield bond offering (issuance of 5.30% senior notes due 2022 (‘Bonds)) by Marble II Pte. Limited (‘Marble II’). The Bonds issued by Marble II are listed on the Singapore Exchange.

Mphasis Limited (the Company) is one of the largest IT solutions providers listed in India and serves marquee clients in 14 countries across the globe. The Company was incorporated in August 1992 and became a subsidiary of Hewlett-Packard in 2008 pursuant to Hewlett-Packard’s acquisition of Electronics Data Systems Corporation (“EDS”) (a majority shareholder of Mphasis Limited). In 2016, the Blackstone Group through Marble II acquired the shares of Mphasis Limited held by EDS and became the promoter of the Company.

The Capital Markets Team of the Shardul Amarchand Mangaldas was led by Mr. Prashant Gupta, Partner, National Practice Head - Capital Markets; Mr. Raghubir Menon, Partner; Ms. Manjari Tyagi, Partner; and included Ms. Ishita Kashyap, Senior Associate; and Ms. Garima Tyagi, Associate.

Deutsche Bank, Standard Chartered Bank, Barclays Bank, Citigroup Global Markets, Crédit Agricole, Credit Suisse, The Hongkong and Shanghai Bank, ING Bank, J.P. Morgan and UBS, acted as the Joint Lead Managers and Joint Bookrunners in relation to the offering.

Other advisors to the transaction were Kirkland and Ellis (advised Marble II as to matters of US Federal and New York state law); Allen & Gledhill LLP (advised Marble II as to matters of Singapore law); Davis Polk & Wardwell advised the Joint Lead Managers and Joint Bookrunners as to matters of US Federal and New York state law; Morgan Lewis Stamford LLC advised the Joint Lead Managers and Joint Bookrunners as to matters of Singapore law; Cyril Amarchand Mangaldas advised the Joint Lead Managers and Joint Bookrunners as to matters of Indian law.

The final offering memorandum was filed on June 13, 2017 and the Bonds were issued on June 20, 2017.

About Shardul Amarchand Mangaldas & Co.

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

Currently, the Firm has over 480 lawyers, including 91 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurgaon, Ahmedabad, Kolkata, Bangalore and Chennai. 

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