Lex Favios advised Alstom Bharat Forge Power in the four-bank consortium providing working capital facilities of US$450 million. The consortium was led by State Bank of India and included IDBI Bank, Axis Bank and ICICI Bank. 

Lex Favios advised the consortium on drafting, vetting and negotiating the facility agreement, inter-creditor agreement, authority letters, security trustee agreement, deed of hypothecation, indenture of mortgage, omnibus counter-guarantee and other related undertakings. The loan was arranged to part-finance a project in Gujarat envisaging the setup of a manufacturing facility of sub-critical and super-critical turbine generator islands and components with an installed capacity of 3,000 MW in Gujarat Industrial Development Corporation’s Sanand industrial estate in Ahmedabad.