TT&A, MD&T, Morrison, Kelley Drye act on DFC's $11.5M financing to Leap Agri Logistics

TT&A, MD&T, Morrison & Foerster LLP and Kelley Drye & Warren LLP acted on United States International Development Finance Corporation (DFC) long-term loan facility of up to $11.55 million to Leap Agri Logistics (Malout) Private Limited.

The loan was provided by way of an external commercial borrowing

TT&A advised DFC on this financing transaction.

The transaction team consisted of Gautam Saha (Partner), Pallavi Meena (Partner), Pragya Sood (Partner), Pratha Agarwal (Managing Associate), Radhika Sarda (Associate) and Sangita Sharma (Associate).

MD&T Partners acted as the Indian law counsel for Leap Agri Logistics and its group entities.

Morrison & Foerster LLP and Kelley Drye & Warren LLP acted as the international (US) legal counsel for DFC and Leap Agri Logistics, respectively.

The funds have been availed by Leap Agri Logistics for the construction of a 150,000 metric ton grain silo storage complex in accordance with concession agreement executed by the Company with the Food Corporation of India.

The U.S. International Development Finance Corporation (USDFC) is a government agency that provides financing for private-sector development projects in emerging markets. It aims to promote economic growth and improve living standards in developing countries while advancing U.S. foreign policy objectives.

Leap Agri Logistics (Malout) is part of the Leap India network, a leading provider of agricultural warehousing and logistics solutions in India. Leap India was founded in 2018 by Rajeev Karthikeyan and Anurag Malempati with the vision of modernising India's agricultural infrastructure.

Leap Agri Logistics (Malout) focuses on improving grain storage infrastructure in the Malout region. This aims to reduce post-harvest losses, enhance food security for local farmers, and improve the efficiency of the agricultural supply chain. By providing modern storage facilities, Leap Agri Logistics (Malout) helps farmers to store their produce safely and efficiently, reducing spoilage and ensuring better returns on their investments.

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