"Cyril Amarchand Mangaldas Advises Cerberus and IFC on ₹1,600 Crore Debenture Subscription for Hindusthan National Glass Resolution Plan"

Cyril Amarchand Mangaldas acted as counsel for Cerberus Capital Management and the International Finance Corporation (IFC) in relation to their subscription to 16,000 unlisted, senior, secured, unrated, redeemable, non-convertible debentures issued by KRPV Fire Fite Private Limited, totaling ₹1,600 crore. The transaction involved Cerberus subscribing to 13,000 Series 1 Debentures for ₹1,300 crore, while IFC subscribed to 3,000 Series 2 Debentures for ₹300 crore. The proceeds from these debentures were utilized for the implementation of a resolution plan concerning Hindusthan National Glass & Industries Limited, as well as for working capital and capital expenditure requirements of HNG. The legal teams from Cyril Amarchand Mangaldas included: **For Cerberus Capital Management:** - **Financing Team:** - Subhalakshmi Naskar, Partner (Co-Head - Projects (Infrastructure)) - Hariharan Kumar, Partner - Diptiman Mohapatra, Principal Associate - Rohil Deshpande, Senior Associate - Rishav Kashyap, Associate - Aniket Nighojkar, Associate - **Insolvency Team:** - Dhananjay Kumar, Partner (Head - Insolvency & Restructuring) - Surbhi Pareek, Partner - Neha Shivhare, Principal Associate - Aditya Pandey, Associate - Vinesh Chaudhary, Associate - Tara Ranade, Associate - Mansi Verma, Associate **For International Finance Corporation (IFC):** - **Financing Team:** - Pranav Sharma, Partner - Uday Khare, Partner - Angira Chakraborty, Principal Associate - Divisha Jindal, Senior Associate - Aditya Saraswat, Senior Associate - Sanjna Mehrotra, Associate - **Insolvency Team:** - Uday Khare, Partner - Divisha Jindal, Senior Associate - Sanjna Mehrotra, Associate - **Corporate Team:** - Ravindra Bandhakavi, Senior Partner - Srabanee Ghosh, Partner - Radhika Shukla, Senior Associate - Ketan Jain, Associate - Rhea Prasad, Associate - **Competition Team:** - Dhruv Rajain, Partner - Ananya Mahant, Senior Associate

"Cyril Amarchand Mangaldas Advises Cerberus and IFC on ₹1,600 Crore Debenture Subscription for Hindusthan National Glass Resolution Plan"

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