{"id":118461,"date":"2020-09-03T11:17:46","date_gmt":"2020-09-03T04:17:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/uob-capitaland-collaborate-for-singapores-first-dual-tranche-sora-sofr-loan\/"},"modified":"2020-09-03T20:04:18","modified_gmt":"2020-09-03T13:04:18","slug":"uob-capitaland-collaborate-for-singapores-first-dual-tranche-sora-sofr-loan","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uob-capitaland-collaborate-for-singapores-first-dual-tranche-sora-sofr-loan\/","title":{"rendered":"UOB, CapitaLand collaborate for Singapore\u2019s first dual tranche SORA-SOFR loan"},"content":{"rendered":"


\nCapital Tower. Photo: CapitaLand.\u00a0
\nCapitaLand and United Overseas Bank Limited (UOB) have entered into a two-year\u00a0dual-tranche loan agreement worth $200 million.\u00a0
\nIn a release, CapitaLand revealed that the dual-tranche loan references both the Secured Overnight Financing Rate (SOFR) and the Singapore Overnight Rate Average (SORA), making it the first of its kind within Singapore.
\nIt noted that the interest rate on the two tranches will be based on SORA and SOFR\u2019s daily compounded averages, both calculated in arrears. It added that the proceeds of the loans will be used for general corporate purposes.
\nThe bilateral loan facility comes ahead of a global transition from interbank offer rates to alternative risk-free rates, which are more transparent and reflective of market conditions.
\nThe relevant regulatory and industry bodies have identified SORA and SOFR as \u201cthe alternative benchmark rates to replace the Swap Offer Rate (SOR) in Singapore and the US Dollar LIBOR respectively\u201d.
\n\u201cWith our first SORA-SOFR dual tranche structure, CapitaLand continues to proactively prepare for the global transition to alternative benchmark rates,\u201d said Andrew Lim, Group Chief Financial Officer of CapitaLand Group.
\n\u201cAs a globally diversified real estate company, CapitaLand\u2019s early adoption of these new interest rate benchmarks across different currencies enables us to work with our key banking partners such as UOB, to ensure that the Group\u2019s ongoing transition of our loan book to alternative benchmark rates proceeds smoothly.\u201d
\nThe collaboration between CapitaLand and UOB is in line with the initiatives of the Monetary Authority of Singapore to support SORA\u2019s adoption as a key interest rate benchmark within the city-state and the development of robust and vibrant SORA markets.
\nNeed help with home refinancing? Speak to our advisors for free on PropertyGuru Finance. Looking for a property instead? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…UOB, CapitaLand collaborate for Singapore\u2019s first dual tranche SORA-SOFR loan<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Capital Tower. Photo: CapitaLand.\u00a0 CapitaLand and United Overseas Bank Limited (UOB) have entered into a...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-118461","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uOF","jetpack-related-posts":[{"id":116715,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-obtains-500-million-sustainability-linked-bilateral-loan-from-uob\/","url_meta":{"origin":118461,"position":0},"title":"CapitaLand obtains $500 million sustainability-linked bilateral loan from UOB","date":"May 28, 2020","format":false,"excerpt":"\r The loan is regarded to be the largest sustainability-linked bilateral loan in the real estate sector of Singapore. Photo: CapitaLand CapitaLand has secured a $500 million sustainability-linked loan from United Overseas Bank (UOB). The loan is regarded to be the largest sustainability-linked bilateral loan in the real estate sector\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-gets-300m-sustainability-linked-loan\/","url_meta":{"origin":118461,"position":1},"title":"CapitaLand gets $300m sustainability-linked loan","date":"October 4, 2018","format":false,"excerpt":"\r This is the first and largest sustainability linked credit in Asia\u2019s property industry. CapitaLand revealed on Thursday (4 Oct) that it has clinched a $300 million multi-currency sustainability-linked loan from DBS Bank. Aside from being Singapore\u2019s biggest sustainability-linked financing provided by one lender, the five-year loan and revolving credit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101029,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitalands-home-sales-in-china-hit-2bil-yuan\/","url_meta":{"origin":118461,"position":2},"title":"CapitaLand\u2019s home sales in China hit 2bil yuan","date":"November 8, 2018","format":false,"excerpt":"\r La Botanica in Xi\u2019an is one of four residential developments launched in \u201cGolden September Silver October\u201d season. (Photo: CapitaLand) CapitaLand held four residential launches in China over the past month, in which it sold a total of 1,506 units worth 2 billion yuan ($396.7 million) \u2013 marking the company\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51442,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-announces-privileges-for-national-servicemen\/","url_meta":{"origin":118461,"position":3},"title":"CapitaLand announces privileges for national servicemen","date":"April 10, 2017","format":false,"excerpt":"\r National Servicemen can enjoy exclusive benefits across various CapitaLand properties in Singapore, including ION Orchard. (Photo: CapitaLand)\u00a0 To celebrate 50 years of National Service (NS) in Singapore, members of the armed forces are entitled to $500,000 worth of exclusive benefits at more than 30 CapitaLand properties across the country.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113801,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-to-create-asia-pacifics-third-largest-reit-with-us6-2-billion-merger-of-singapore-office-and-shopping-mall-trusts\/","url_meta":{"origin":118461,"position":4},"title":"CapitaLand to create Asia-Pacific\u2019s third largest REIT with US$6.2 billion merger of Singapore office and shopping mall trusts","date":"January 22, 2020","format":false,"excerpt":"\r CapitaLand Mall Trust and CapitaLand Commercial Trust plan to merge their holdings in shopping malls and offices in Singapore and Germany to create the third largest real estate investment trust by market value in Asia-Pacific.\r\rCapitaLand Mall Trust will buy all CapitaLand Commercial Trust units by stock, cash and fees\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111111,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-tops-sias-20th-investors-choice-awards-for-fourth-straight-year\/","url_meta":{"origin":118461,"position":5},"title":"CapitaLand tops SIAS 20th Investors\u2019 Choice Awards for fourth straight year","date":"September 27, 2019","format":false,"excerpt":"\r The Group also received the Sustainability Award in the Big Cap category, the Most Transparent Company Award in the Real Estate category and runner-up for the Singapore Corporate Governance Award. CapitaLand Group garnered 14 wins group wide during the Securities Investors Association Singapore (SIAS) 20th Investors\u2019 Choice Awards, making\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118461"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=118461"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/118461\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=118461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=118461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=118461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}