CAM advises DFC for External Commercial Borrowing
Cyril Amarchand Mangaldas advised and assisted the United States International Development Finance Corporation (DFC) in
CAM advises DFC for External Commercial Borrowing
Cyril Amarchand Mangaldas advised and assisted the United States International Development Finance Corporation (DFC) in relation to an External Commercial Borrowing (ECB) facility of USD 250 million which was extended to Shriram Transport Finance Company Limited (STFC).
The said loan will be used by STFC to expand financing to MSMEs for the purchase of new and used commercial vehicles.
The Project & Project Finance Practice of Cyril Amarchand Mangaldas was led by Ramanuj Kumar, Partner; with support from Aditi Misra, Partner. Shrey Srivastava, Senior Associate, advised and assisted DFC on structuring the transaction, drafting, and negotiation of security documents.
The financing facility has been structured as corporate financing with structured finance features, including security over a portfolio of downstream loan receivables.
White & Case LLP acted as US counsel to DFC.
The Transaction was signed on 17 May 2022; and closed on 03 June 2022.