Baker McKenzie Wong & Leow has advised the arrangers DBS Bank Ltd., Mizuho Bank Ltd., and MUFG Bank Ltd. in Fullerton India Credit Company Limited's ("Fullerton India") first external commercial borrowing (ECB) loan for USD250 million. The dual-currency facility was completed on 15 August 2019.
Finance & Projects Principal, Kah Chin Chu, led on this matter and was supported by associate Charlyn Lim. Commenting on the transaction, Kah Chin said: "This transaction is a result of the recent liberalisation of the ECB framework by India's policy makers, which focuses on the end-use of funds raised via ECB. With the relaxation of the rules, we expect to see more Indian corporates and non-banking financial companies entering the loan market."
Fullerton India is a leading non-banking financial company (NBFC), with a strong pan-India presence. Since its launch in January 2007, Fullerton India has successfully established itself across the country's broad financial landscape to offer diverse financing options. Fullerton India is a wholly owned subsidiary of Fullerton Financial Holdings Pte. Ltd.