OCBC extends first SORA-based loan to energy sector

Uploaded By:  Alyssa Divina Submitted By:  Staff Reporter Case Study:  No The $100m loan was made to a Sembcorp subsidiary. OCBC has extended its first SORA-based loan in the energy sector with a $100m loan to Sembcorp Financial Services, a wholly owned subsidiary of Sembcorp Industries. The three-year loan is part of a S300m loan extended to Sembcorp by the bank. The loan facility’s interest rate comprises two components: a compounded average of daily SORA rates calculated in arrears, and an applicable margin. read more