Shriram Housing Finance raises $50 million in its maiden external commercial borrowing

The mortgage lender, which is part of the Shriram Group, has raised the fund from Canara Bank's London branch at 200 basis points over Secured Overnight Financing Rate (SOFR), a company official said. The fund was raised for three years. The overall cost with one-year hedging cost has come around 8.4%, the official said. This is in line with the company's average borrowing cost of 8.5%. One basis point is 0.01 percentage point.

Related Keywords

Canara ,Karnataka ,India ,Ravi Subramanian ,Canara Bank London ,National Housing Bank ,Shriram Group ,Housing Finance ,Canara Bank ,Secured Overnight Financing Rate ,National Housing ,Shriram Finance ,Finance Managing Director ,Affordable Housing ,External Borrowing ,Shriram Housing Finance ,