By Jennifer Chiou
New York, June 6 - Oversea-Chinese Banking Corp. Ltd. raised another RM 600 million from an offering of 10-year lower tier II subordinated bonds.
The 4.6% coupon will be payable semiannually.
The bonds have a call option, and if they are not redeemed on June 6, 2013, the coupon will step up to 5.6%.
On March 20, the company priced a downsized RM 1 billion issue of 10-year lower tier II subordinated bonds with a coupon of 4.6%. If not redeemed, the coupon steps up to 5.6% on March 27, 2013.
OCBC Malaysia and RHB Investment Bank are bookrunners.
Oversea-Chinese Banking is a Singapore-based retail and commercial bank.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Amount: | RM 600 million
|
| Issue: | Lower tier II subordinated bonds
|
| Maturity: | 2018
|
| Bookrunners: | OCBC Malaysia, RHB Investment Bank
|
| Coupon: | 4.6%
|
| Call features: | If not called, bonds step up to 5.6% on June 6, 2013
|
| Settlement date: | June 6
|
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