Cyril Amarchand Mangaldas advised United States International Development Finance Corporation (DFC), in relation to the financing of an up to USD 150 million loan to IndusInd Bank for microfinance lending to women borrowers in rural communities in the states of Jharkhand, Uttar Pradesh and Bihar.
The Project and Project Finance Practice of Cyril Amarchand Mangaldas acted as the legal counsel for DFC in the transaction. The transaction team was led by Ramanuj Kumar, Partner; Aditi Misra; Partner; with support from Shrey Srivastava, Senior Associate.
As a part of the Transaction, The IndusInd Bank Limited (acting through is branch in GIFT City (“Bank“) and DFC executed a finance agreement for an unsecured loan of up to USD 150 million to the Bank to support the expansion of the Bank’s microfinance lending to women borrowers.
Other Parties and Advisors to the transaction included Morrison Foerster (acted as advisor for DFC), DFC (lender).
The transaction documents was signed on 21st October 2022 and the loan was disbursed on 22nd December 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.