Mizuho and Bank of Baroda join forces on India M&A finance

The alliance also covers foreign exchange hedging and escrow support for transactions.

Mizuho Bank and Bank of Baroda have entered into a strategic partnership to expand collaboration in mergers and acquisitions (M&A) financing, structured lending, cross-border financing, and corporate and investment banking.

The partnership combines Mizuho Bank's global network and expertise in structured finance with Bank of Baroda's domestic presence and corporate client base in India.

Under the agreement, the two banks will work together on acquisition finance, including joint origination, structuring, co-underwriting and syndication.

They will also collaborate on M&A advisory, risk distribution through sub-participation and secondary markets, foreign exchange and interest rate hedging, escrow services, and the exchange of best practices in acquisition finance.

Lalit Tyagi, executive director at Bank of Baroda, said the partnership comes as India sees increasing corporate consolidation driven by infrastructure development, digital transformation, the energy transition, and companies seeking greater scale.

Piyush Agarwal, senior managing director and India co-country head at Mizuho Bank, said India is a key market for the Japanese lender's long-term international growth strategy.