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DBS and Wilmar ink $200 mil SORA-based loan, a first for the agri-business industry

Felicia Tan
Felicia Tan8/27/2020 08:50 AM GMT+08  • 2 min read
DBS and Wilmar ink $200 mil SORA-based loan, a first for the agri-business industry
This is the agri-business industry’s first SORA loan coupled with an IRS.
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DBS Bank and Wilmar International have signed a $200 million corporate loan agreement pegged to the Singapore Overnight Rate Average (SORA) on August 27.

The loan facility’s interest rate, which references SORA, comprises a compounded daily SORA rate calculated in arrears and an applicable margin.

At the start of each interest period, Wilmar will also have the option to enter into a SORA interest rate swap (IRS) to give certainty of interest rates.

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