Structured as an External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI), the transaction was led by Standard Chartered Bank and DBS Bank as Joint Mandated Lead Arrangers and Bookrunners (JMLABs).
Pricing Mechanics and the 10-Bank Global Syndicate
The $175 million facility carries an average tenure of 3.25 years at a pre-hedging coupon of 6.00%, pegged at 215 basis points (bps) over the Secured Overnight Financing Rate (SOFR), which currently stands at 3.85%, plus applicable currency hedging costs.
Beyond anchor commitments from Standard Chartered Bank and DBS Bank, the syndicate drew participation from eight additional overseas financial institutions across Asia, the Middle East, and Africa:
-1200x675.jpg&w=3840&q=75)
-800x450.jpg&w=3840&q=75)
-800x450.jpg&w=3840&q=75)
-2-800x450.jpg&w=3840&q=75)
-1-800x450.jpg&w=3840&q=75)

-800x450.jpg&w=3840&q=75)

-800x450.jpg&w=3840&q=75)