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Interlaw Singaporean Firm Advises on Indian Telecoms Deal
CNPLaw, Interlaw’s partner firm in Singapore, has acted as Singapore counsel to ICICI Bank Limited, Kotak Mahindra Bank Limited, IndusInd Bank Limited, and Axis Bank Limited in connection with a term loan of 37.5 billion rupees (approximately US$470 million) raised by Data Infrastructure Trust (DIT). DIT is an infrastructure investment trust sponsored and managed by Brookfield Asset Management. The loan was used to refinance the existing debt of American Tower Corporation.
DIT successfully raised US$941 million through INR-denominated bonds to fund the acquisition of American Tower Corporation's telecom infrastructure assets in India. This landmark transaction involved the purchase of approximately 76,000 communication sites across the country. As a result of this acquisition, Brookfield's portfolio of telecom sites in India has expanded to approximately 257,000 sites.
