Krishnamurthy & Co. (K Law) advised Axis Bank Limited in connection with granting certain credit facilities to a leading Indian hospitality group owning five-star hotel properties across India including Mumbai, New Delhi, Kolkata, Chennai, and Bangalore. The hotel properties are operated under the banding of a top international five-star hotel chain listed on New York Stock Exchange and having presence in more than 75 countries.
The borrower entity is developing a five-star villa styled hotel property located in Goa for which certain external commercial borrowings were obtained. The present term credit facilities from Axis Bank Limited will be utilised for refinancing the existing external commercial borrowings and further development of the hotel property in Goa.
K Law advised Axis Bank Limited, as the lender’s legal counsel, and was involved in structuring, drafting, negotiating, and finalising all transaction documents including the term loan agreement and the security documents. K Law also advised Axis Bank Limited on various legal and regulatory issues pertaining to the financing transaction.
The transaction was led by Zeeshan Khan (Partner) and supported by Anirban Roy Choudhury (Senior Associate) and Priyanshi Jain (Associate).