Allen & Overy has advised Amtek Global Technologies (AGT) on its EUR235 million long-term facilities provided by Kohlberg Kravis Roberts & Co’s (KKR) US and European debt and credit investment funds.
The loan facility provided by KKR to AGT will be used, inter alia, to refinance all of the existing debt financings of AGT and its subsidiaries.
AGT is a subsidiary of Amtek Auto Limited, one of the world's largest global forging, casting and integrated machining companies, which is listed in India on the National Stock Exchange and the Bombay Stock Exchange.
Kunal Sabharwal, chief executive officer of AGT, says: "As a leading automotive components manufacturer, we are seeking to expand our ambitions internationally. We have concluded a financing with KKR which is the beginning of a long-term partnership for the future. This transaction is a significant milestone for us and we looked for advisors who could provide legal excellence and strategic direction. We are a new client to Allen & Overy and I am delighted to say that we will be relying on the firm to support us on all our future transactions."
The A&O team for this transaction was led from London by banking partner Sanjeev Dhuna, assisted by associates Jagannath Iyer, Joydeep Choudhuri and George Owen, with support from the banking teams in the Frankfurt, New York and Singapore offices.
Dhuna says: "It is a privilege to be involved in a transaction that has made the European and Indian debt markets take note of a significant financing provided by an alternative financing provider. Amtek is a new client to the firm and our ability to provide a relationship-driven approach, together with a global coverage model, helped to win this client from our competitors."
