Shiv Vani  plans to borrow Rs. 337 crore ($ 75 million) with an upsize option of upto 90 crore ($ 20 million) by selling Foreign Currency Convertible Bonds (FCCB). Axon Partners along with Norton Rose are advising the FCCB.

Shiv Vani, Oil & Gas exploration company, plans to borrow Rs. 337 crore ($ 75 million) with an upsize option of upto 90 crore ($ 20 million) by selling Foreign Currency Convertible Bonds (FCCB).

Axon Partners LLP acted as the sole Domestic Legal Counsel led by Capital Markets Partner Abhimanyu Bhandari.

The Singapore office of Norton Rose was the International Legal Counsel led by Oil & Gas Partner Adam Summerly and was assisted by Senior Associate Ferzana Haq.

This comes at a respite, after the recession hit grieve earlier this year. There has been a lull in the debt markets across Europe and Asia. Notwithstanding this in the last two weeks Shiv Vani Oil & Gas and Essar Oil are two bond offerings that the market has seen.

Earlier this year, Shiv Vani closed a 90 crore ($ 20 million) investment from Templeton Strategic Emerging Markets Fund by divesting 5.3 percent in the company. Desai & Diwanji had advised Templeton in this transaction with Partner Amit Khansaheb leading the team.

Shiv Vani is raising funds and plans to spend $50 million to acquire a U.S. or European company to get access to technology mentions a Bloomberg report.

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