TT&A assisted Asian Development Bank (“ADB”) on its loan facility (by way of an external commercial borrowing) of up to USD 125,000,000 to L&T Finance Limited (now merged into L&T Finance Holdings Limited). The borrower is an NBFC and will on-lend the proceeds to various end-users including to women borrowers for rural group loans and micro finance loans. The ADB financing deal was negotiated and entered into in parallel with a merger process under which L&T Finance Limited and certain other L&T group companies were to be merged into L&T Finance Holdings Limited.

TT&A Team: Ambarish Mohanty – Partner; and Shubham Gupta – Associate