APRIL 20249TOP STORIESHDFC BANK TO RAISE $1B VIA SYNDICATED LOANSHDFC Bank, India's largest lender by market value, has recently doubled its overseas borrowing through a term loan syndication from 23 global banks, including Japan's MUFG, in a greenshoe option to the primary facility. Initially borrowing $500 million from MUFG in December, HDFC Bank exercised the green shoe option to raise another $500 million, bringing the total proceeds to $1 billion. This marks the largest three-year overseas loan organized by an Indian bank for general corporate purposes.According to sources familiar with the deal, the syndication was completed recently, with HDFC Bank opting to exercise the full green shoe option due to strong demand from foreign banks. Banks from Asia, the Middle East, and Europe participated in the syndication, demonstrating the broad interest in HDFC Bank's offering.The funds raised will be used by HDFC Bank to bolster its liabilities following the merger with its mortgage lending parent HDFC last year. The loan, priced at 110 basis points above the three-month Secured Overnight Financing Rate (SOFR), translates to an interest rate of about 6.45 percent for the three-year term.MUFG initially served as the sole bank mandated with the loan, financing it through its branch in India's Gift City. However, at the syndication stage, MUFG retained only $150 million, with the remaining amount sold to other lenders from various countries, including Taiwan, Japan, and Saudi Arabia. This syndication process ultimately led HDFC Bank to secure the total $1 billion loan. GEMINI INDIA LAUNCHES CAMPAIGN TO PROMOTE HEALTHY LIVINGGemini Edibles & Fats India launched an impactful campaign on Freedom Rice Bran Oil titled `CholesterolkiSafaika specialist'. This is the second advertisement in their ongoing campaign series, `Rice Bran Oil Kare Andar Se Safai' (Rice Bran Oil cleans from the inside), to empower individuals to adopt rice bran oil which helps cleanse cholesterol from the inside. The campaign is aimed at informing the public about the importance of using Freedom Rice Bran oil for daily cooking as it has 10,000+ parts per million of Oryzanol, besides ingredients like tocopherol and tocotrienols, which are natural antioxidants. They help improve heart health and actively promote an increase in good cholesterol while effectively reducing the levels of bad cholesterol, offering consumers a path to elevate their well-being.The campaign revolves around the core message of `Jami HuiChiknayiKoSaafKarneKeLiye Hum Specialist KoBulateHai' (We call specialists to clean the stubborn stains from kitchen chimney), centering on clearing out built-up cholesterol, the silent perpetrator that quietly accumulates within us, clogging arteries and potentially leading to heart attacks. Consumption of Rice Bran Oil ­ an expert in maintaining cholesterol balance, daily can help prevent the accumulation of cholesterol and keep us heart healthy.According to P Chandra Shekhara Reddy, Senior Vice-President of Sales & Marketing at Gemini Edibles and Fats India Ltd, "Rice Bran Oil is a trusted choice for health-conscious consumers. Freedom Rice Bran oil, with over 10000+ ppm of Oryzanol, actively supports heart health by increasing good cholesterol while reducing bad cholesterol. This campaign is designed to help customers understand the importance of cooking food daily with rice bran oil as it helps in cleaning bad cholesterol ­ hence the message,' Cholesterol kiSafaika specialist', keeping people healthy. Through the campaign, Freedom Rice Bran Oil reinforces the need to consume food cooked in rice bran oil to stay healthy".
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