775 crore lease rental loan – SNG & Partners advises State Bank of India

May 25, 2024
SBI has sanctioned a total of ₹792.95 crore funding to Velankani Information Systems.

State Bank of India has sanctioned lease rental term loan fund-based facility amounting to ₹775.44 crore and credit exposure non-fund-based facility amounting to ₹17.51 crore to Velankani Information Systems Private Limited in relation to their real estate project at Electronic City, Bengaluru.

SNG & Partners advised State Bank on this transaction. The Firm has provided legal advisory and documentation support; negotiating and finalizing the facility and security documents. The transaction end-to-end was concluded under tight timelines. The SNG team had to coordinate well inter-se and also with the lender and the borrower to ensure that comments were sought, discussed and incorporated in the shortest possible time.

The transaction team consisted of Ashok Satyanathan (Partner), Hetal Sheth (Principal Associate) and Saloni Shah (Associate).

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