“MUFG was the sole lender in the HDFC Bank transaction, which was priced at 94 basis points above the three-month benchmark SOFR (secured overnight financing rate) for a three-year period. HDFC Bank has raised the money from its GIFT branch for its on-lending purposes, which is a rare borrowing for the bank,” a person aware of the transaction said on condition of anonymity.A basis point is a hundredth of a percentage point.An HDFC Bank spokesperson did not reply to an email seeking comment. An MUFG spokesp ...