TT&A and Watson Farley & Williams have advised the Asian Development Bank (ADB) on a USD100 million commercial loan to SK Finance.
The TT&A team, which counselled on Indian legal matters for ADB, included partners Gautam Saha and Ambarish Mohanty, with the assistance of associate Shubham Gupta. Watson Farley & Williams acted as the English Law counsel for ADB.
The SK Finance in-house legal team steered the deal.
SK Finance will use the loan to support the financing of electric vehicle purchases and provide funding to women borrowers and women-led businesses.
SK Finance is a non-deposit taking, middle-layer non-banking financial company, specialising in vehicle and MSME financing. It provides secured loans for used and new vehicles, and offers asset-backed loans to underserved, self-employed individuals. It is backed by leading private equity firms including Norwest Venture Partners, TPG Capital, Baring India and Evolvence India.
