DCM L&TF

completed

 The proposed investment comprises a (5-year) senior, secured funding of up to INR9,000M or US$125M to L&T Finance Limited (“L&TF” or the “Company”). IFC’s investment will support the agriculture segment in India by helping L&TF augment its farm equipment financing portfolio. L&TF will match IFC’s investment 3x by contributing up to US$375M for the same end-use, and at least 60% of the combined fund will be utilized for on-lending to the low-income states of India.L&TF is the rural financing focused arm of L&T Finance Holdings (“L&TFH” or the “holdco”) which is the financial services holdco of the L&T Group. L&TF loan book comprises of: (i) rural (54%) (ii) real estate financing (18%), (iii) wholesale financing (26%) and (iv) others (2%). The rural book, which is the focus segment of this entity can be further segmented into farm equipment financing, 2-wheeler financing and micro loans. As of December 31, 2018, L&TF’s AUM stood at INR435B (US$6.04B) and equity at INR90B (US$1.25B). IFC may also mobilize additional funding from other investors for the project.