Shriram Housing Finance raises $50 m in first overseas borrowing

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The mortgage lender, which is part of the Shriram Group, has raised the fund from Canara Bank's London branch at 200 basis points over Secured Overnight Financing Rate (SOFR), a company official said. The fund was raised for three years. The overall cost with one-year hedging cost has come around 8.4%, the official said. This is in line with the company's average borrowing cost of 8.5%. One basis point is 0.01 percentage point.

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