SBI raises $1 billion from MUFG via social loan

The public sector lender plans to deploy the funds to lend to women or businesses helmed by women, documents accessed by ET showed. Social loans are either raised for specific purposes or the liabilities raised are matched to loans already given for specific purposes.“The five-year loan was raised through the Gift City branch of MUFG and priced at 90 basis points above the three-month SOFR (secured overnight financing rate), a tighter pricing compared to what SBI’s peer HDFC had raised $1 billion through a ...