Singapore's Oversea-Chinese calls S$1 billion 5.1% preference shares

By Marisa Wong

Madison, Wis., June 11 - Oversea-Chinese Banking Corp. Ltd. issued a notice of redemption to the holders of its S$1 billion 5.1% class B non-cumulative non-convertible preference shares.

The issuer plans to redeem the preferreds on July 29.

Holders of record on July 12 will receive a redemption amount of S$100 per share plus a final dividend of S$0.54 per share.

The Singapore-based financial group issued the preferreds in August 2008.

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