Cyril Amarchand Mangaldas advised and assisted United States International Development Finance Corporation (DFC) in relation to USD 250 million External Commercial Borrowing (ECB) facility extended to Shriram Transport Finance Company Limited (STFC). The loan will be used by STFC to expand financing to MSMEs for purchase of new and used commercial vehicles.
The Project & Project Finance Practice of Cyril Amarchand Mangaldas advised and assisted DFC on structuring the transaction, drafting and negotiation of security documents. The transaction was led by Ramanuj Kumar, Partner; with support from Aditi Misra, Partner; and Shrey Srivastava, Senior Associate.
The financing facility has been structured as a corporate financing with structured finance features, including security over a portfolio of downstream loan receivables.
Other Parties and Advisors to the transaction included White & Case LLP (Acted as US counsel to DFC).
The Transaction was signed on 17th May, 2022; and closed on 03rd June 2022.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
