First Blue Transaction: TT&A advises IFC on $500 million loan provided to Axis Bank

IFC - International Finance Corporation has granted an unsecured loan of $500 million made available to Axis Bank Limited, acting through its corporate office in Mumbai, Maharashtra and its IFSC Banking Unit (“IBU”) in GIFT City, Gujarat.

TT&A advised IFC on this transaction.

The transaction team consisted of Gautam Saha (Joint Managing Partner), Ambarish Mohanty (Partner), Ankita Mandal (Managing Associate) and Sangita Sharma (Associate).

This is IFC’s first “blue” investment in India and the first blue transaction by a financial institution in the country; the loan will be used by Axis to help develop a blue finance market and scale up financing of green projects in India. This also marks IFCs largest ever green financing in India.

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