"The loan will be priced 110 basis points above the six-month SOFR rate with a reset clause after every six months linked to the then prevailing SOFR rate," said a person familiar with the deal. One basis point is 0.01 percentage point. The six-month SOFR is around 5.39%. The final pricing of deal is likely to be around 6.49%. Bank of Baroda has agreed to underwrite the whole amount initially with a possibility of a loan syndication after a few months.