Baker & Mckenzie, JSA and Khaitan help close China Development Bank and Aircel deal

Aircel has raised Rs. 3,150 crore ($700 million) from China Development Bank (CDB) as External Commercial Borrowings (ECB) to the telecom company. The ECB has been divided into two loans of Rs. 1,575 crore ($350 million) each. The ECB has been raised to pay the Chinese suppliers for the equipments purchased for expansion of the company.