HDFC completes $1.1 bn syndicated social loan facility

MUMBAI: HDFC Ltd has announced the completion of the $1.1 bn Syndicated Social Loan Facility for the financing of affordable housing in India. The loan has been priced 90 basis points over Secured Overnight Financing Rate. “Affordable housing is a critical component of quality infrastructure as also a growth driver for the real estate industry and the economy at large given its strong linkages to nearly 300 industries. It contributes to capital formation, employment, and income opportunities,” said Deepak Parekh, Chairman, HDFC Ltd.