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ICICI Bank executes SOFR linked transactions

08 Oct 2021 Evaluate

ICICI Bank has executed its first term loan and cross currency swap derivative transactions linked to Secured Overnight Financing Rate (SOFR). The transactions were carried out with a corporate client through the Bank’s International offices.

These transactions indicate the Bank’s preparedness towards smooth transition from USD LIBOR (London Interbank Offered Rate) to transactions linked to Alternative Reference Rates (ARR).

ICICI Bank is a leading private sector bank in India.

Peers
Company Name CMP
HDFC Bank 692.30
ICICI Bank 1394.00
Axis Bank 1214.70
Kotak Mahindra Bank 461.00
Indusind Bank 840.00
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