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JSA, Khaitan, W&C arrange $200m DB loans to Financial Technologies as ECB to boom

Khaitan & Co, J Sagar Associates (JSA) and White & Case have advised exchange and trading technology provider Financial Technologies on its $200m debt funding by Deutsche Bank AG.

Khaitan & Co banking and finance partner Shishir Mehta led for Deutsche Bank on Indian law while Mehta’s former firm White & Case advised as international legal counsel with partner partner KateAllchurch and counsel Jamie Thomas.

JSA partner Priyanka Roy acted for the borrower Financial Technologies, which operates exchange and ecosystem network of 10 exchanges and 5 ecosystems across multi assets including commodities, currencies and energy and equity.

Mehta commented that the debt markets were interesting after the Reserve Bank of India (RBI) raised interest rates, which had been unexpected. “This development will have an impact on the domestic debt market because Rupee financing would be more expensive but the flip-side is that the ECB market will become more attractive for borrowers who are in a position to avail that.”

The deal involved external commercial borrowings (ECB) of $85m by Financial Technologies and an offshore facility of $115m availed by its overseas subsidiary.

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