HDFC seals a $ 1.1 billion social loan for affordable housing
Construction Philosophy|August 2022
Mortgage lender HDFC Limited has announced the completion of a $1.1 billion Syndicated Social Loan Facility for financing affordable housing in the country.
HDFC seals a $ 1.1 billion social loan for affordable housing

 The loan has been priced competitively at a margin of 90 bps over SOFR (Secured Overnight Financing Rate), a press release from HDFC said.

"This transaction marks several meaningful milestones, including India's largest social financing issuance, the largest social loan globally, the first social ECB loan out of India and the largest ECB loan deal from a Housing Finance Company/ private NBFC in India," it said.

The landmark financing further promotes HDFC's longstanding mission to be the leading provider of housing finance in India. Proceeds from the social loan would go towards financing affordable housing loans," the release said.

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