Certus advised an investor (~US$49Bn in AUM) on its ₹1,000 crore debt investment
In a nutshell
Certus acted as the buy-side advisor to the Investor and was end-to-end involved including commercial assessment, diligence review and risk assessment, structuring, documentation, and closure
Transaction involved ₹1,000 crore senior debt investment by a global multi-asset alternative Investments Firm (“Investor”) against a high-quality residential portfolio in Bangalore. It is one of the largest single institutional investments in India residential sector in recent years.
Borrower is a prominent Bangalore based developer with a stellar track record of delivering high quality projects across office and residential segments. The underlying consists of a portfolio of four near complete, premium residential projects in Bangalore.
This transaction was a win-win solution for the Borrower, Investor and existing lender as it: (1) provided last-mile completion financing and (2) resolved asset-liability mismatch.
Certus acted as an extended team of the Investor, undertaking commercial assessment of underlying projects, scenario analysis, formulation of project milestones / covenants for post-investment asset management, practical assessment of material findings across all diligence streams, assessing commercial impact of planned demerger (and subsequent merger with a listed entity) and assistance in formulation of inter-creditor principles and escrow arrangements.