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UOB and CapitaLand collaborate on Singapore's first dual tranche SORA-SOFR loan for $200 mil

Felicia Tan
Felicia Tan9/3/2020 07:54 AM GMT+08  • 2 min read
UOB and CapitaLand collaborate on Singapore's first dual tranche SORA-SOFR loan for $200 mil
The dual tranche loan references both the Singapore Overnight Rate Average (SORA) and the Secured Overnight Financing Rate (SOFR), making it the first of its kind in Singapore.
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United Overseas Bank Limited (UOB) and CapitaLand have, on September 3, entered into an agreement for a two-year loan $200 million term loan.

The dual tranche loan references both the Singapore Overnight Rate Average (SORA) and the Secured Overnight Financing Rate (SOFR), making it the first of its kind in Singapore.

The interest rate on both tranches will be based on the compounded daily averages of daily SORA and SOFR, both calculated in arrears. The loan proceeds will be used for general corporate purposes.

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