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White & Case Advises United States International Development Finance Corporation on a US$250 Million Financing in India

Global law firm White & Case LLP has advised United States International Development Finance Corporation (DFC) on a US$250 million senior credit facility provided to Shriram Transportation Finance Company Limited, one of India's largest financiers of commercial vehicles.

The loan proceeds will be used to expand financing to micro, small, and medium enterprises (MSMEs) for the purchase of new and used commercial vehicles. The financing was structured as a corporate financing with structured finance features, including security over a portfolio of downstream loan receivables.

DFC's financing is expected to have a high developmental impact by enhancing the Borrower's focus on MSME road transport operators, including first-time buyers from underserved communities, and by facilitating greater transport sector efficiency in India. In addition, the Borrower will deploy the DFC loan alongside a program to promote the uptake for commercial vehicle operators to bring alternative fuel and lower emissions vehicles into service.

The White & Case team in Washington, DC was led by counsel Suzanne Perry and partner Martin Menski, with support from associates Adrian Leal and Mihret Woldesemait. Cyril Amarchand Mangaldas advised DFC on Indian law matters.

White & Case's Agency Lenders team has achieved a leading reputation for advising development banks, export credit agencies and multilateral institutions on the most cutting edge, complex energy and infrastructure projects and agency requirements. The Firm's team is a global leader for energy and infrastructure finance, as evidenced by its #1 Global ranking by both value and deal count according to Infralogic League Tables 2021, and Band 1: Global-wide: Projects & Energy ranking in Chambers Global 2021.

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