Wilmar, DBS ink agribusiness industry's first SORA loan

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Wilmar, DBSbank ink agribusiness industry's first SORA loan

DBS's group head of institutional banking Tan Su Shan said the latest facility"builds momentum" to facilitate the industry's transition towards adopting SORA as the new interest-rate benchmark for the Singapore dollar cash and derivatives markets.

Wilmar's chief financial officer Charles Loo said the loan will put the agri-food company"in good stead to ride the wave of interest-rate reforms and drive better understanding and greater adoption of risk-free rates in general, which is more stable and robust". SORA is a backward-looking overnight rate, as compared to forward-looking reference rates commonly used for loan facilities in Singapore, such as the SGD Swap Offer Rate where the interest rate is determined at the start of the interest period.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla's Musk hints of battery capacity jump ahead of industry eventTesla Inc's chief executive Elon Musk has suggested the U.S. electric carmaker may be able to mass produce longer-life batteries with 50per cent ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Skills facelift for spas, hair and beauty salons with launch of new industry frameworkSINGAPORE - Singapore's beauty industry is getting a skills facelift with the launch of a new framework to help more than 13,000 workers in the industry to plan their career and development pathways.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

China to import US$300 billion of chips for third straight year - industry groupChina is likely to import at least US$300 billion worth of semiconductors for the third year running, an industry association official said, in a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Stronger Hurricane Laura aims at heart of US oil refining industryHurricane Laura strengthened on Wednesday as it churned over evacuated oil-production platforms in the U.S. Gulf of Mexico and took aim at the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »