Impresario Entertainment and Hospitality Private Limited availed certain structured private credit facilities by way of issue of unrated, unlisted, secured, redeemable non-convertible debentures, on private placement basis, which were subscribed to by funds and schemes managed by Anicut Capital LLP. Impresario Entertainment and Hospitality Private Limited, is backed by India Resurgence Fund (IndiaRF), a leading India-focused distressed and special situations investment platform, sponsored by Piramal Enterprises Limited and Bain Capital Credit.

Impresario Entertainment and Hospitality Private Limited owns leading restaurant brands like Social, Anti-Social, Smoke House Deli, Prithvi Café, Mocha, Slink and Bardot, Bandra Born, Boss Burger, and Lucknowee and has presence all over India.

The heavily negotiated transaction used significantly complex security structures involving escrow mechanisms for guaranteeing the repayments together with charge on the restaurant assets along with pledge of the issuer’s shares and other customary securities.

Krishnamurthy & Co. (KLaw) advised Impresario Entertainment and Hospitality Private Limited, as the Issuer’s legal counsel, and was involved in reviewing, negotiating, and finalising the term sheet, all debenture issuance documents, and the security documents. KLaw was also involved in drafting various ancillary documents and advising the issuer on various legal and regulatory issues pertaining to the issue of the non-convertible debentures.

The transaction was led by Partner, Zeeshan Khan and assisted by Anirban Roy Choudhury (Senior Associate) and a team of associates. IndiaRF’s senior inhouse legal counsel Premit Chopda, ably assisted on key issues and negotiations during the transaction.

The investors, Anicut Capital LLP and its funds and schemes, were advised by IC Universal Legal, and certain promoters of Impresario Entertainment and Hospitality Private Limited were advised by Stratage Law Partners.