Cyril Amarchand Mangaldas advised and assisted the United States International Development Finance Corporation (DFC) in relation to the 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 the purchase of new and used commercial vehicles.
The Project & Project Finance Practice of Cyril Amarchand Mangaldas advised and assisted DFC on structuring the transaction, and drafting and negotiating 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 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.