ICL-AF-0003 Active
Aurora Freight Group In-House Bank · Aurora Freight Group plc
$12,000,000
Aurora Freight USA Inc → Aurora Freight Japan KK
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
533 bps
+
95 bps
=
628 bps
View data table
| Component | Basis points |
|---|---|
| SOFR benchmark | 533 bps |
| Credit spread | 95 bps |
| Arm's-length rate | 628 bps |
Loan terms
Booked through the in-house bank
- Lender
- Aurora Freight USA Inc (US)
- Borrower
- Aurora Freight Japan KK (JP)
- Principal
- $12,000,000
- Currency
- USD
- Benchmark
- SOFR · 533 bps
- Credit spread
- 95 bps
- Arm's-length rate
- 628 bps
- Interest convention
- Act 360
- Start date
- 14 Sep 2025
- Maturity date
- 14 Sep 2029
- Accrued interest
- $628,000
- Indicative annual interest
- $753,600
- Tax jurisdiction (borrower)
- Japan
Purpose
Why the in-house bank booked this facility
Refinance the Yokohama bonded warehouse