Debt

Debt financing

SBI raises $1-B social loan from Japan’s MUFG to fund women entrepreneurs

State Bank of India (SBI) has raised USD 1 Billion (INR 9,100 crore) through a five-year loan from Japan’s largest lender, Mitsubishi UFG Financial Group (MUFG).SBI intends to deploy the proceeds from this facility towards women’s economic empowerment loans to help support gender equality.The five-year loan was raised through the Gift City branch of MUFG and priced at 90 basis points above the three-month SOFR (Secured Overnight Financing Rate). MUFG is the sole bank in this deal, but this loan will be syndicated to a wider section of lenders.