JSA advised Bharat Petroleum Corporation Limited (BPCL) in connection with consent solicitation exercises (Consent Solicitations), each by BPCL and BPCL’s indirect wholly owned subsidiary, BPRL International Singapore Private Limited (BISPL), in relation to one series of unsecured Senior US$ 500 Million Notes issued by BPCL under the Medium-Term Note Programme and two series of standalone Senior US$ 500 Million Notes as well as US$ 600 Million Notes issued by BISPL and guaranteed by BPCL under the Medium-Term Note Programme.
As a result of completion of the Consent Solicitations, BPCL as well as BISPL received the approval of the bond/ noteholders to (a) make certain amendments to the terms and conditions of such series of Notes and (b) to give certain directions to the relevant trustee to vote for the purpose of approving the proposed amalgamations, viz. Bharat Oman Refineries Limited and Bharat Gas Resources Limited, being two wholly-owned subsidiaries of BPCL, are in the process of being amalgamated with BPCL.
JSA Transaction Team Lead Partner – Dina Wadia, and Partner – Uttara Kolhatkar.
Dina specialises in Banking & Finance, Investment Funds, Financial Services, and Mergers & Cross Border Investments & Acquisitions.