Singapore's Great Eastern plans S$1 billion multicurrency MTN program

By Marisa Wong

Madison, Wis., Jan. 10 - Great Eastern Holdings Ltd. and Great Eastern Life Assurance Co. Ltd. announced that they are establishing a S$1 billion multicurrency medium-term note program.

Great Eastern and Great Eastern Life said they may issue senior or subordinated notes from time to time in Singapore dollars or in other currencies in various amounts and tenors.

The notes may bear fixed or floating rates, interest on dual currency or index-linked bases or no interest.

Proceeds will be used for general corporate purposes.

Oversea-Chinese Banking Corp. Ltd. and Morgan Stanley Asia (Singapore) Pte. are the dealers for the program.

Based in Singapore, Great Eastern holds insurance companies in Singapore, Malaysia, Brunei, Indonesia, China and Vietnam.

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