Global law firm White & Case LLP advised the United States International Development Finance Corporation (DFC) on a $250 million senior credit facility extended to Shriram Transportation Finance Company Limited, one of India’s largest financiers in commercial vehicles.
The loan proceeds will be used to extend financing to micro, small and medium enterprises (MSMEs) for the purchase of new and used commercial vehicles. The financing was structured as a corporate finance with structured finance features, including a guarantee on a portfolio of downstream loan receivables.
DFC financing is expected to have a high development impact by strengthening the Borrower’s focus on MSME road transport operators, including first-time buyers from underserved communities, and facilitating greater sector efficiency. transport in India. In addition, the Borrower will deploy the DFC Loan alongside a program to promote the adoption by commercial vehicle operators of the entry into service of alternative fuel and low-emission vehicles.
The White & Case team in Washington, DC was led by attorney Suzanne Perry and her partner Martin Menski, with support from partners Adrian Leal and Mihret Woldesemait. Cyril Amarcand Mangaldas has advised DFC on Indian law matters.
White & Case’s Agency Lenders team has built a leading reputation advising development banks, export credit agencies and multilateral institutions on the most complex and challenging energy and infrastructure projects. more specific and on the requirements of the agencies. The firm’s team is a global leader in energy and infrastructure financing, as evidenced by its #1 global ranking by value and number of deals according to Infralogic League Tables 2021, and Band 1: Global-wide: Projects & Energy ranking in Chambers Global 2021.
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