The first tranche of $15 million was executed on October 15 after receiving regulatory approval while the balance of $10 million is scheduled for execution in November, Muthoot Microfin's chief executive Sadaf Sayeed said. The effective cost of borrowing comes to 11.3%. The pricing is 500 basis points over the secured overnight financing rate (SOFR),which is at 2.28%, and includes the hedging cost.source https://economictimes.indiatimes.com/industry/banking/finance/muthoot-microfin-to-raise-25-million-from-swiss-investor-responsability/articleshow/95123440.cms
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