NDA, AZB, BMR, CAM, Shearman act on Spandana Sphoorty $270 million fund raise (Updated)

Spandana Sphoorty Financial Ltd has raised over $100 million (about Rs 650 crore) in equity capital from a consortium of investors led by Kedaara Capital and including Canadian pension fund Ontario Teachers’ Pension Plan, according to a press statement..It also raised $170 million (about Rs 1,100 crore) in debt capital from IndusInd Bank, Yes Bank and ICICI Bank..In the process, the company managed to repay all its outstanding dues and exited the corporate debt restructuring (CDR) process, reported VCCircle..DealSpandana raises debt and equity capitalValue$270 millionSectorNBFC- Micro FinanceDeal TypeM&ALaw FirmsKedaara Capital – AZB & Partners; Spandana – Nishith Desai Associates, Lenders- Cyril Amarchand Mangaldas; Ontario – Shearman & Sterling; JM Financial – BMR LegalPartners/ HeadsNDA – Nishchal Joshipura and Abhinav Harlalka; AZB – Ashwin Ramanathan, Rinki Ganguli; Shearman & Sterling – Sidharth Bhasin; BMR Legal – Amit Khansaheb.Spandana was represnted by Nishith Desai Associates and the team included Nishchal Joshipura and Abhinav Harlalka..Kedaar Capital was advised by AZB & Partners through a team led by Partners Ashwin Ramanathan, Rinki Ganguli and Associate Ramya Mahidhara..JM Financial was advised by BMR Legal Partner Amit Khansaheb and Principal Nikhil Sachdeva..Ontario was advised by Shearman & Sterling through a team led by Partner Sidharth Bhasin with support from associates James Clayton-Payne and Denise Lum..All 37 lenders were represented by Cyril Amarchand Mangaldas.