The Asian Development Bank (ADB) has approved a significant external commercial borrowing (ECB) facility amounting to $100 million for Kisetsu Saison Finance (India) Private Limited. This financial arrangement is part of Kisetsu Saison’s larger $500 million ECB program, which involves multiple co-lenders.
Renowned law firm TT&A provided legal advice to the Asian Development Bank in this transaction. The team from TT&A was led by Partner Ambarish Mohanty, with the support of Managing Associate Ankita Mandal and Senior Associate Sajjan Singh. Their expertise was pivotal in navigating the complexities of this international financing arrangement.
In addition, Watson Farley & Williams served as the International Legal Counsel to the ADB. This collaboration underscores the importance of cross-border legal expertise in facilitating such significant financial transactions.
Kisetsu Saison Finance, an Indian subsidiary of the Credit Saison Group, plans to utilize the funds to support its mission of providing long-term loans to micro, small, and medium-sized enterprises (MSMEs) in India. Notably, at least 30% of the proceeds from this facility are earmarked for loans to eligible women borrowers, aligning with the company’s commitment to fostering social finance.
This transaction highlights the strategic importance of international funding in bolstering the growth of MSMEs in India, especially those led by women, thereby contributing to the broader economic development of the region.
