Clifford Chance

Clifford Chance advises Indiabulls Real Estate on $175 million high yield offering

Leading international law firm Clifford Chance has advised Indiabulls Real Estate Limited as parent guarantor and Century Limited as issuer on the issuance of US$175 million 10.25% senior notes due 2019 listed on the Singapore Stock Exchange (SGX). Deutsche Bank was the lead manager.

"We were delighted to assist Indiabulls Real Estate on this high yield offering, a first by an Indian real estate company," said Partner Rahul Guptan who led on the deal. "We've seen a strong comeback in India's capital markets since the election and, as this recent deal demonstrates, there are signs the high yield market is gaining momentum."

Rahul was assisted by senior associate Shashwat Tewary. In Hong Kong partner Richard Lee, consultant Andrew Kelly and senior associate Naveen Pogula advised.