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HDFC announces completion of $1.1 bn syndicated social loan facility
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IANS | 05 Aug, 2022
HDFC Ltd has announced the completion of the USD 1.1
billion
Syndicated Social Loan Facility for the financing of affordable housing
in India. The loan has been priced 90 basis points over Secured
Overnight Financing Rate (SOFR).
"Affordable housing is a
critical component of quality infrastructure as also a growth driver for
the real estate industry and the economy at large given its strong
linkages to nearly 300 industries. It contributes to capital formation,
employment, and income opportunities," said Deepak Parekh, Chairman,
HDFC Ltd.
MUFG Bank Ltd is the Lead Social Loan Coordinator for
this transaction along with being one of the Mandated Lead Arranger and
Borrowers (MLAB). CTBC Bank, Co. Ltd, Mizuho Bank Ltd., State Bank of
India and Sumitomo Mitsui Banking Corporation are the other MLABs and
Joint Social Loan Coordinators.
HDFC has financed 9.5 million housing units and has a gross loan book of Rs 6.7 lakh crore.
HDFC's
Social Financing Framework is in line with globally-recognised social
loan frameworks designed for participants in the sustainability
financing market to consistently certify, track and monitor the social
impact of financing assets.
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