Sterling Overnight Interbank Average Rate (SONIA) Current Affairs, GK & News

SBI and IOCL to ink India’s First Libor Alternative Rate Deal

March 17, 2021
SBI

The State Bank of India (SBI) and Indian Oil Corporation Limited (IOCL) will be sign the first Secured Overnight Financing Rate (SOFR) linked external commercial borrowing (ECB) deal. The deal will be signed because the de facto international benchmark reference rate called the London Interbank Offered Rate (LIBOR) will no longer work as the benchmark ..

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