By Aaron Hochman-Zimmerman
New York, Nov. 21 - Oversea-Chinese Banking Corp. Ltd. priced S$225 million 10-year lower tier II notes (Aa2/A/A+) with a coupon of 3.78%, according to a press release.
If the notes are not called on the step-up date of Nov. 28, 2012, the interest rate becomes a floating rate equal to the Singapore-dollar swap offer rate plus 172 basis points.
The deal was offered under Regulation S.
OCBC is a Singapore-based retail and commercial lender.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Amount: | S$225 million
|
| Issue: | 10-year lower tier II notes
|
| Maturity: | 2017
|
| Coupon: | 3.78%, steps up to Singapore-dollar swap offer rate plus 172 basis points after Nov. 28, 2012
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 28
|
| Distribution: | Regulation S
|
| Rating: | Moody's: Aa2
|
| Standard & Poor's: A
|
| Fitch: A+
|
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