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UOB, CapitaLand agree on dual tranche SORA-SOFR loan

The $200m will be used for general corporate purposes.

UOB and CapitaLand have agreed to a two-year $200m dual tranche loan, the first to reference both the Singapore Overnight Rate Average (SORA) and the Secured Overnight Financing Rate (SOFR), a statement revealed.

The interest rate on the loan’s two tranches will be based on the compounded averages of daily SORA and SOFR, both calculated in arrears, and with respective applicable margins.

The loan proceeds will be used for general corporate purposes.

In June, CapitaLand was the first Singaporean firm to obtain a SORA-based loan from OCBC.

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