Shardul Amarchand Mangaldas & Co. advises Think and Learn Private Limited (Byju’s Group) in relation to the prestigious Term Loan B financing in USA

December 9, 2021

Shardul Amarchand Mangaldas & Co. advised Think and Learn Private Limited (Byju’s Group) in relation to the prestigious Term Loan B (“TLB”) financing to Byju’s Alpha Inc., a Delaware corporation. The transaction is collateralized in a structured manner and the loan amount at present is US$ 1200 Million. The date of closing was 24 November 2021.

The Transaction is only the second TLB financing by an Indian technology company and constitutes the largest TLB by an Indian borrower, as well as one of the largest TLB globally in history.

The core transaction team was led by Veena Sivaramakrishnan, Partner; Utkarsh Bandhu, Principal Associate; Jasraj Singh Narula, Associate; and Shubhra Baghel, Associate. The Intellectual property team was led by Abhay J.V, Partner; and Apoorva Murali, Principal Associate. Gopalkrishna Hegde, Consultant provided key strategic inputs on the structuring of the transaction.

White & Case team assisted Think and Learn Private Limited (Byju’s Group) on the foreign legal aspects of the transaction.

Talwar Thakore & Associates and Linklaters LLP advised Morgan Stanley Senior Funding Inc. and JP Morgan Chase Bank on Indian legal and foreign legal aspects, respectively.