Kayal Sachi is a partner in the Singapore office of Mayer Brown's Banking & Finance practice. She has a wealth of international experience gained across three continents having worked in Australia, United Kingdom and Singapore. With more than three decades of experience, Kayal's practice spans across a wide range of products including leveraged and acquisition finance, project finance, telecoms finance and asset finance, with a recent focus on debt funds, private equity financing and leveraged finance, and corporate and event-driven financings (including restructurings) in India and Southeast Asia.
- Advised a leading global bank and the Indian lenders in connection with a restructuring of its Raceview facilities to Essar Global Fund Limited.
- Advised Investec Bank on the financing of an acquisition by ChrysCapital in India, the US, Singapore and the UK.
- Advised Investec Bank on the financing of an acquisition by Carlyle in India.
- Advised a leading global bank in connection with capex facility for Domsjo Fabrika AB.
- Advised a leading global bank and other financiers on a highly structured financing to refinance BPH's acquisition of Sabah Forest Industries in Malaysia.
- Advised the lenders on the financing of Suzlon's acquisition of RE Power and its subsequent restructuring.
- Advised ICICI and the lenders on the Wadia Group's acquisition of Britannia Brands Limited.
- Advised a leading global bank on a USD 560 million syndicated term loan facility to Ballarpur Paper Holdings B.V. (a subsidiary of the Ballarpur Industries Limited - India's largest paper company). This is India's first cross-border leveraged recapitalization transaction. This was a highly structured transaction involving an Indian scheme of arrangement, intercompany loans and the issue, sale and purchase of compulsory convertible debentures by and shares of a subsidiary of Ballarpur Industries Limited together with a funding and security structure that involves six Dutch subsidiaries and a Malaysian subsidiary of Ballarpur Industries Limited.
- Advised the Asia-Pacific arm of a leading global securities company, the global coordinator, Bank of India, State Bank of India (Canada), Punjab National Bank (International) Limited and Indian Overseas Bank, the arrangers of the senior secured term facility, on the financing supporting the USD 250 million take private acquisition by Aegis Limited (formerly Aegis BPO Services Ltd) by way of merger with PeopleSupport, Inc. a Nasdaq listed leading outsourcing group with worldwide operations, including in the United States.
- Advised the lenders on the debt financing supporting the USD 1.1 billion acquisition by GMR Infrastructure Limited, the listed Indian infrastructure development company, of a 50% stake in InterGen N.V, the Netherland based global power generation company, from the US based private equity fund.
- Advised two leading global banks and ICICI on the acquisition financing for Suzlon’s USD 566 million acquisition of Hansen Transmissions, one of the largest foreign acquisitions by an Indian corporate.
- Advised the lenders on the financing supporting the acquisition by Suzlon of a stake in RE Power, the listed German manufacturer and supplier of wind-powered generating facilities and its subsequent restructuring.
- Advised Axis Bank in relation to a credit facility to refinance an existing working capital loans and acquisition finance loans to the Mexican subsidiaries of the JK Tyre Limited, an Indian conglomerate. The deal involved share and asset security across, Mexico, Switzerland, Cyprus and India.
- Advised Axis Bank and a group of syndicate banks as lenders in relation to the refinancing of the acquisition finance facility provided to 3i Infotech Financial Software Inc for the acquisition of the Regulus Group of companies.
- Advised the Mandated Lead Arrangers in respect of USD 700 million borrowing base facilities for OW Bunker & Trading A/S.
- Advised ICICI Bank, a leading global bank and Nomura on a USD 270 million acquisition facility for Manipal Academic Services International to partially finance the acquisition of Manipal Global Education Services.
- Advised a leading global bank as agent on a credit agreement for VarrocCorp Holding for the acquisition of the lighting business of a leading automatic global supplier.
- Advised DBS Bank and a leading global bank as lenders on the SGD 325 million term loan and revolving credit facilities to Perennial China Retail Trust Management Pte Ltd (as trustee-manager of Perennial China Retail Trust) to finance the acquisition and development of shopping malls in the PRC and distributions to unitholders. Security for the facilities includes share charges over subsidiaries located in Singapore, BVI, Hong Kong and PRC and debentures given by subsidiaries in Singapore, BVI and Hong Kong.
- Advised the banks on a term loan facility provided to the Adani Group in connection with the investments by the Adani Group in coal assets in Indonesia.
- Advised the lenders on a bid by Carlyle for an Indian company.
- Advised National Australia Bank on its acquisition loan facilities to Cambridge Industrial Trust, secured by a portfolio of industrial properties in Singapore and related assets.
- Advised the lenders on the USD 1.3 billion take private of Essar Energy PLC.
- Advised the lenders on Fortis’ acquisition of Parkway Holdings Limited.
- Advised the lenders on Tata's acquisition of the motor arm of a luxury vehicle brand.
- Advised the lenders (including State Bank of India and a leading global bank) on the acquisition of Abbot Point Coal Terminal in Queensland, Australia by Adani Group.
- Advised a leading global bank in connection with a USD 470 million credit facility for a Singapore based subsidiary of GMR Infrastructure to be utilised in connection with the acquisition of a 30% stake in a mining subsidiary of PT Sinar Mas Tunggal to be listed on the Indonesian Stock Exchange.
- Advised DBS Bank on the financing of the acquisition by a subsidiary of Fortis Healthcare Limited of part of the business of HK-listed Quality Healthcare.
- Advised a leading Asia-Pacific bank as lenders and arrangers on leveraged property acquisition financing for the real estate arm of a global investment firm in Singapore in respect of BREP’s first property acquisition financing in Singapore.
- Advised the ITE PPP project in Singapore.
- Advised the lenders on the SUT utilities plant (including NEWater) in Jurong Island, Singapore (first Singapore dollar project financing)
- Advised the lenders (led by a leading global bank) on the limited recourse financing of the SembCogen gas fired combined cycle co-generation plant located at Jurong Island, Singapore being the first merchant plant in Asia (closed 2001 but current on certain matters).
- Advised a client in relation to securitisation of various loan portfolios in Singapore, Malaysia and Thailand.
- Advised the lenders in connection with the financing of a water fabrication plant (SMP) in Singapore.
- Advised Axis Bank in connection with a structured transaction for Cox Australia Pty Ltd.
- Advised Peter Kerkar and Kubber Investments in connection with a potential settlement with Lehman Brothers Holdings Inc.
- Advised a leading global bank in connection with a financing to Indochina-Crescent Land Development Ltd which (via its onshore subsidiaries) holds a leasehold interest in two resorts and a commercial office building in Vietnam.
- Advised Ontario Teachers’ Pension Plan Board (OTPP) in connection with its proposed investment in a loan (as lender of record) currently provided by a leading global bank to a Malaysian entity.
- Advised a leading global bank in connection with a USD 445 million facility for Waterfront Properties Pvt. Ltd. for the financing of the construction and development costs of a integrated complex in Colombo, Sri Lanka.
- Advised Emperador Inc Project Gap in connection with a loan facility for acquisition of White & Mcray.
- Advised First Gulf Bank PJSC (FGB) in connection with a loan facility for Bharti Airtel (Netherlands) B.V. (BAIN).
- Advised arranger on a bond financing by a geothermal (Wayang Windu Geothermal Project) project company in Indonesia.
- Advised an acquirer on an acquisition in Senkang Power Project in Indonesia.
- Advised Hiedelberger on the restructuring and acquisition of Indocement.
- Advised Ex-Im Bank, COFACE, ECGD, Hermes, Korean Ex-Im and SACE in connection with the USD 6 billion financing of Reliance Industries Ltd's Jamnagar petroleum refinery project in India.
- Advised Pacific Bangladesh Tech Project in Bangladesh involving China Construction Bank.
- Advised the lenders (led by a leading Asia-Pacific bank) on the World Bank guaranteed (PRG from IDA) Haripur power project in Bangladesh. This deal was awarded Project Finance Deal of the Year 2001 by Emerging Asia by Global Finance.
- Advised FMO and DEG on the financing of an expansion to a calcined petroleum coke plant in India.
- Advised Investec Bank on a USD 100 million facility to a Dutch subsidiary of Sintex Industries Limited, an Indian multinational company primarily in the business of plastic manufacturing, for the purposes of funding a share buyback.
- Advised a leading global bank in connection with a USD 100 million facility for Hindalco Industries Limited from a leading Canada's export credit agency as lender.
- Advised Axis Bank on a project financing provided to the Reliance ADAG Group for the development of a highway in Pune, India.
- Advised banks (including Axis Bank) on various loan facilities provided to Mundra Port and Special Economic Zone Limited for the development of the Mundra Port in Gujarat, India.
- Advised ICICI Bank on the restructuring bank facilities of Draxis Specialty Pharmaceuticals Inc. Canada as part of a corporate reorganisation.
- Advised a leading global bank on a term loan facility being advanced to Alok Worldwide (a subsidiary of Alok Industries, a company incorporated in India) with the proceeds of such facility being used to repay certain financial indebtedness of various members of the Alok Industries Group.
- Advised the Export-Import Bank of India on three related financings to Suzlon group: (i) a term loan facility for AE Rotor Holdings B.V., guaranteed by Suzlon Wind Energy South Africa (Pty) Ltd, Suzlon Energy Limited and Shri Tulsi Ranchhodbhai Tanti, for the purposes of meeting working capital requirements in relation to a wind farm consisting of 66 wind turbines to be located at Cookhouse, Eastern Cape Province, the Republic of South Africa with a capacity of 138.6MW; (ii) a performance guarantee and advance payment guarantee facility agreement for Suzlon Wind Energy Uruguay, guaranteed by AE Rotor Holdings B.V., Suzlon Energy Limited and Shri Tulsi Ranchhodbhai Tanti, being credit support for the performance by the Borrower of its obligations (financial or otherwise) under the contract in relation to a wind farm consisting of 31 wind turbines to be located at Rosendo Mendoza, the Oriental Republic of Uruguay with a capacity of 65.1MW; and (iii) a term loan facility for Suzlon Wind Energy Corporation, guaranteed by AE Rotor Holdings B.V., Suzlon Energy Limited and Shri Tulsi Ranchhodbhai Tanti, for the purposes of expansion plans and undertaking new business developments in international markets and executing on-going international projects outside of India.
- Advised the lenders in connection with the financing of a wafer fabrication plant (SMP) in Singapore.
- Advised a leading global bank on the USD 700 million facility to UMCI for a wafer fabrication plant.
- Advised the lenders on a financing of a condominium and service apartment project in Indonesia.
- Advised the lenders on the 1.2bn pan Asian (with link to US) C2C project financing and acting for the lenders in its restructuring and subsequent enforcement and sale of the project company (awarded Asian Telecom Deal of the Year 2001 by Project Finance International).
- Advised Asian Development Bank in connection with its participation in the AES Kelanitissa power project in Sri Lanka.
- Advised IFC and the Government of Maldives in relation to the regulatory framework and structuring for a PPP-based Solid Waste Management Project in the Maldives.
- Advised IFC, FMO, DEG and ADB on the Lafarge cement project in Bangladesh which included advising on environmental issues.
- Advised Prithvi Information Solutions Limited - advised Lehman Brothers (underwriters) and Edelweiss Capital as managers on the JPY 6 billion zero coupon convertible bond due 2011.
- Advised the banks on the BTSC transport project in Bangkok.
National University of Singapore, Bachelor of Laws
Second Class Honours (Lower)
- England and Wales
- Australia, Western Australia
- Leading Individual - Banking and Finance: Foreign Firms, Singapore – The Legal 500 Asia Pacific (2019-2021)
- Foreign Expertise in India - Banking & Finance, Singapore – Chambers Global (2019-2021)
- Expertise Based Abroad - Banking & Finance, India – Chambers Global (2019-2021)
- Band 1 - Banking & Finance (International Firms) (Expert Based Abroad), India – Chambers Global (2018)
- Leading Individual - Banking & Finance: International, Singapore – Chambers Global (2018-2021)
- Leading Individual - Banking & Finance: International firms, India – Chambers Asia Pacific (2020, 2021)
- Expertise Based Abroad - Banking & Finance (International Firms), India – Chambers Asia Pacific (2019)
- Band 1 - Banking & Finance (International Firms) (Expert Based Abroad), India – Chambers Asia Pacific (2018)
- Leading Individual - Banking & Finance: International, Singapore – Chambers Asia Pacific (2018-2021)
- Highly Regarded Lawyer - Banking (Singapore) – IFLR1000 (2018-2021)
- Highly Regarded Lawyer - Energy & Infrastructure (Singapore) – IFLR1000 (2018-2020)
- Highly Regarded Lawyer - Project Finance (Singapore) – IFLR1000 (2018-2021)
- Highly Regarded Lawyer - Restructuring and Insolvency (Singapore) – IFLR1000 (2018-2021)