New Development Bank Consults JSA over $125 Million ECB Funding for Shriram Finance
In a significant development, JSA Advocates & Solicitors, a leading law firm, has provided legal advice to the New Development Bank regarding a secured External Commercial Borrowing (ECB) facility for Shriram Finance Limited. The transaction was led by Partner Soumitra Majumdar, with key partners Tirthankar Datta and Abhishek Ray playing pivotal roles.
The $125 million secured ECB facility, aimed at supporting the acquisition of environmentally friendly commercial vehicles, was availed by Shriram Finance Limited. The initiative is part of the company's commitment to promoting sustainability in the commercial vehicle sector.
The transaction team at JSA Advocates & Solicitors also included Principal Associate Harvi Shah and Associate Pankaj Agarwal, who provided valuable support. Tirthankar Datta and Abhishek Ray were also part of the transaction team, working alongside Soumitra Majumdar.
The advised ECB facility by the New Development Bank will be utilized by Shriram Finance Limited for on-lending purposes. The secured ECB facility provided by Shriram Finance Limited will be used to finance the acquisition of sustainable commercial vehicles by its customers.
Shriram Finance Limited, a company that finances commercial vehicles and two wheelers, will primarily use the funding for the acquisition of sustainable commercial vehicles. This move is expected to contribute significantly to the reduction of carbon emissions in the commercial vehicle sector.
JSA Advocates & Solicitors have a proven track record of providing expert legal advice in complex financial transactions. Their involvement in this significant transaction underscores their commitment to supporting sustainable initiatives in the financial sector.
[1] - Source: Business Standard [2] - Source: The Economic Times [3] - Source: Livemint
- JSA Advocates & Solicitors, being involved in the legal advice for the secured ECB facility, demonstrates their expertise in the finance industry.
- The utilization of the secured ECB facility by Shriram Finance Limited for the purchase of environmentally friendly commercial vehicles reflects their business venture in the transportation sector, thereby promoting sustainability.
