FINANCIAL SERVICES | Staff Reporter, Singapore

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.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.