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HomeBankingHSBC: Executes its first SOFR linked trade finance transaction in India

HSBC: Executes its first SOFR linked trade finance transaction in India

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HSBC: Executes its first SOFR linked trade finance transaction in India

  • HSBC announced the completion of its inaugural trade finance transaction linked to SOFR in India
  • This financing was provided to Brookfield Renewable, the  operator of one of the world’s largest pure-play renewable power platforms
  • The documentary credit has been discounted for a period of close to 3 years using Overnight SOFR
  • This transaction represents another step forward in the market transition of interest rate
    benchmarks
  • Bank was also the hedge provider on this transaction, thereby allowing the client to hedge their currency risk
  • It enables its customers to seamlessly conduct international business transactions, in particular, financing, trade, and global markets

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