Loan ICL-AF-0003

What's real Eleanor Whitfield · Corporate Treasurer E

In-house banking

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
02505007501,000SOFR · 533SOFRCredit spread · 95Credit spreadArm's-length · 628Arm's-length
View data table
Arm's-length rate build-up in basis points
ComponentBasis points
SOFR benchmark533 bps
Credit spread95 bps
Arm's-length rate628 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