 "hdfc")
Mortgage financier HDFC Ltd on Friday said it has completed a $1.1 billion syndicated social loan facility at a 3.3 per cent coupon rate for financing affordable housing projects in the country, making it the largest social finance issuance.
This transaction is the largest social loan globally, the first social external commercial borrowing (ECB) loan out of India and the largest ECB loan deal from a housing finance company/ private NBFC in India.
The loan was priced at 90 basis points over the secured overnight financing rate (SOFR). It is a broad measure of the cost of borrowing cash overnight
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