A&O continues to be recognised for market-leading position in India

The winning deals were chosen not only for their size, but for the novelty and complexity of the transaction or case, examples of which include:

1. REC Limited’s USD750 million green bond – led by Pallavi Gopinath Aney, A&O advised REC on the issuance (in 144A/Reg S format) of the USD750 million 5.625% green bonds due 2028 under its GMTN programme. The issuance is the largest-ever senior USD tranche by an Indian NBFC and is the largest-ever senior green bond tranche by a South Asian or South-East Asian issuer.
2. Hapag-Lloyd acquires stake in J M Baxi Ports & Logistics – led by Harsh Pais, Jonas Wittgens, and Helge Schafer the team advised Hapag-Lloyd AG on the acquisition of a co-controlling stake in the Indian transport, logistic and technology conglomerate J M Baxi Ports & Logistics Limited headquartered in Mumbai. It is a landmark deal in India and the most significant investment ever by a German company in India by value. It is also the biggest deal in the ports sector in India.
3. AdaniConneX financing – led by Jason Humphreys and Jessica Lee, A&O advised AdaniConneX, a 50:50 JV between Adani Enterprises Ltd and EdgeConneX, on its USD213 million senior debt facility with participation from international banks to finance its under-construction data centre portfolio of 67MW in Noida and Chennai, India. The transaction was the largest data centre financing deal in India.

Partner and joint chair of the India Group, Pallavi Gopinath Aney, commented: “This is an incredibly exciting time in India’s growth story and our team is completely committed to doing best-in-class work in the Indian market and supporting our clients fully. We are delighted with this recognition for our transactions and team and grateful to our clients for their support.”

The latest APAC directory results also reflect the continued strength of the India Group. “Allen & Overy’s ‘formidable’ dedicated India team, runs the gamut of contentious and non-contentious mandates... Acting for domestic clients and foreign investors in India, the team has a deep specialist knowledge of the Indian market.” Legal 500 Asia Pacific 2024.