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Khaitan, Dua, Bakers on $250m nuclear ECB

Khaitan & Co advised public sector undertaking Nuclear Power Corporation of India (NPCIL) in its external commercial borrowing (ECB) of Rs 1,343 crore ($250m) from State Bank of India, Singapore which was advised by Baker & McKenzie Wong & Leow and Dua Associates.

Khaitan & Co partner Upendra Joshi acted for NPCIL which will use the loan to construct various domestic nuclear power plants and purchase equipment for Indian and foreign projects.

Dua Associates partner Anil Aggarwal acted for State Bank of India (SBI), which began the loan syndication in December 2011, according to Business Week.

Baker & McKenzie Wong & Leow acted as international legal counsel to SBI.

The ECB was part of 5 other borrowings through the approval route, in January, aggregating to $917.7m of total Indian ECBs in the month, according to The Hindu Businessline.

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