By Marisa Wong
Madison, Wis., July 7 - Oversea-Chinese Banking Corp. Ltd. announced it priced A$500 million of senior notes due July 14, 2014.
Interest will equal the three-month Bank Bill Swap reference rate plus 83 basis points, payable quarterly.
The notes will be issued under the bank's $5 billion debt instruments program, which has been rated Aa1 by Moody's Investors Service, AA- by Fitch Ratings and A+ by Standard & Poor's. The note offering was targeted at Australian and Asian investors.
Oversea-Chinese, National Australia Bank Ltd., Royal Bank of Scotland plc and Westpac Banking Corp. are the joint lead managers and joint bookrunners.
The notes are expected to settle July 14.
Proceeds will be used for general funding purposes of the Singapore-based lender.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Issue: | Senior notes
|
| Amount: | A$500 million
|
| Maturity: | July 14, 2014
|
| Coupon: | Three-month Bank Bill Swap rate plus 83 bps
|
| Bookrunners: | Oversea-Chinese, National Australia Bank Ltd., Royal Bank of Scotland plc and Westpac Banking Corp.
|
| Announcement date: | July 7
|
| Settlement date: | July 14
|
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