Indian Bank secures $400 million overseas loan backed by CTBC/Commerzbank
Business
Indian Bank just grabbed a $400 million loan from overseas for four years.
The deal is backed by CTBC (Taiwan) and Commerzbank (Germany), but it is still open for other banks to join in, so the lender pool could get even bigger.
Loan priced 119-123 bps above SOFR
The loan comes with pretty competitive pricing (just 119 to 123 basis points above SOFR), which should catch the eye of other banks.
Plus, Indian Bank will use the RBI's special swap facility to get better terms on borrowing abroad.
All of this helps the bank access cheaper international funds, manage debt smarter, and keep its financial position strong.