By Aaron Hochman-Zimmerman
New York, March 20 - Oversea-Chinese Banking Corp. Ltd. priced a downsized 1 billion ringgit 10-year lower tier II subordinated bond with a coupon of 4.6%, according to a press release.
OCBC Malaysia and RHB Investment Bank are bookrunners.
If not redeemed, the coupon steps up to 5.6% on Mar. 27, 2013.
The original offer amount of 1.5 billion ringgit, announced on Feb. 26, was reduced due to market volatility.
OCBC is a Singapore-based retail and commercial bank.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Amount: | 1 billion ringgit
|
| Issue: | Lower tier II subordinated bonds
|
| Maturity: | Mar. 27, 2018
|
| Coupon: | 4.6%
|
| Call features: | If not called, bonds step up to 5.6% on Mar. 27, 2013
|
| Bookrunners: | OCBC Malaysia, RHB Investment Bank
|
| Pricing date: | March 20
|
| Settlement date: | March 27
|
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