ICL-AF-0002 Active
Aurora Freight Group In-House Bank · Aurora Freight Group plc
S$18,000,000
Aurora Freight Treasury Centre → Aurora Freight Asia Pte
No physical cash moves between the subsidiaries. The loan sits on the in-house bank's notional balances — the lender's account is credited and the borrower's debited — but the interest is real and is a defensible transfer price for tax purposes.
Arm's-length rate build-up
Benchmark + credit spread = arm's-length rate
360 bps
+
140 bps
=
500 bps
View data table
| Component | Basis points |
|---|---|
| SORA benchmark | 360 bps |
| Credit spread | 140 bps |
| Arm's-length rate | 500 bps |
Loan terms
Booked through the in-house bank
- Lender
- Aurora Freight Treasury Centre (SG)
- Borrower
- Aurora Freight Asia Pte (SG)
- Principal
- S$18,000,000
- Currency
- SGD
- Benchmark
- SORA · 360 bps
- Credit spread
- 140 bps
- Arm's-length rate
- 500 bps
- Interest convention
- Act 365
- Start date
- 11 Feb 2026
- Maturity date
- 11 Feb 2028
- Accrued interest
- S$375,000
- Indicative annual interest
- S$900,000
- Tax jurisdiction (borrower)
- Singapore
Purpose
Why the in-house bank booked this facility
Working capital for the ASEAN feeder network