Shearman & Sterling advised Indian multinational Aditya Birla Group on its $925 million refinancing of existing facilities of certain of its subsidiaries - Alexandria Carbon Black Company, Thai Carbon Black Public Company and the Indigold Carbon Group. The refinancing was arranged by Australia and New Zealand Banking Group Limited, Axis Bank Limited, Bank of America, N.A., Crédit Agricole Corporate and Investment Bank, ICICI Bank, Mizuho Bank, Standard Chartered Bank and State Bank of India.
The refinancing, involving over 15 jurisdictions and with borrowers in seven jurisdictions, consisted of $700 million term loans and a $225 million revolving facility.
The Aditya Birla Group is a multinational Indian corporation valued at approximately $41 billion, with operations in 36 countries and over 120,000 employees. It is the third-largest Indian private sector conglomerate. Shearman & Sterling has a long-standing relationship with Aditya Birla Group, advising on its acquisition of Columbian Chemicals Company in 2011, and the three-part multinational $925 million financing related to the acquisition.