IIFL Home Finance Gets $100 Million Boost from AIIB: SAM, Bird & Bird Provide Legal Expertise
Mumbai – In a significant development for the Indian housing finance sector, IIFL Home Finance Limited has secured a $100 million External Commercial Borrowing (ECB) facility from the Asian Infrastructure Investment Bank (AIIB). This infusion of capital is expected to bolster IIFL Home Finance's lending capabilities and further expand its reach in providing affordable home loans across India.
The transaction highlights the growing importance of international collaborations in supporting India's infrastructure and housing development goals. The AIIB, a multilateral development bank established in 2016, is committed to funding sustainable infrastructure projects across Asia. This ECB facility demonstrates the bank’s confidence in the Indian financial market and its potential for growth.
Legal Expertise Provided by SAM & Bird & Bird
Crucially, the deal was expertly advised by leading law firms Shardul Amarchand Mangaldas & Co (SAM) and Bird & Bird. SAM provided comprehensive legal counsel to the Asian Infrastructure Investment Bank (AIIB) throughout the complex process, navigating the regulatory landscape and ensuring a smooth transaction. Bird & Bird acted as legal advisors to IIFL Home Finance Limited, safeguarding their interests and facilitating a positive outcome.
“We are delighted to have advised the AIIB on this important transaction,” stated a spokesperson from Shardul Amarchand Mangaldas & Co. “It underscores our firm's expertise in advising multilateral institutions on complex financing structures and our commitment to supporting India’s economic development.”
The successful completion of this ECB facility signifies a positive trend in the Indian financial market, attracting foreign investment and supporting the growth of key sectors like housing finance. IIFL Home Finance Limited is a leading housing finance company in India, specializing in providing home loans to salaried professionals and non-resident Indians (NRIs). This additional funding will allow them to cater to a wider range of borrowers and contribute to the government's 'Housing for All' initiative.
Looking Ahead
The AIIB’s investment in IIFL Home Finance underlines the increasing role of multilateral development banks in fueling India’s economic expansion. With a focus on sustainable development and infrastructure, the AIIB is poised to play a pivotal role in shaping India’s future. The legal expertise of SAM and Bird & Bird was invaluable in ensuring the success of this transaction, setting a precedent for future collaborations between international financial institutions and Indian companies.
This deal is expected to have a ripple effect, encouraging further foreign investment in the Indian housing sector and contributing to the overall growth of the Indian economy. The combination of AIIB’s funding, IIFL Home Finance’s expertise, and the legal prowess of SAM and Bird & Bird creates a powerful synergy for driving sustainable development and inclusive growth in India.
