By Susanna Moon
Chicago, Aug. 13 - Oversea-Chinese Banking Corp. Ltd. said it priced A$350 million of three-year senior floating-rate notes (expected Aa1/AA-/AA-).
The notes will be issued by OCBC Bank, Sydney Branch and are expected to be repo-eligible by the Reserve Bank of Australia, according to a company press release.
The notes will be sold under the bank's $10 billion global medium-term note program.
Interest will be set using the three-month Bank Bill Swap reference rate plus 68 basis points.
OCBC Bank, Commonwealth Bank of Australia, Hongkong and Shanghai Banking Corp. Ltd. and J.P. Morgan Australia Ltd. are the lead managers and bookrunners.
Proceeds will be used for general corporate purposes.
The financial group is based in Singapore.
| Issuer: | OCBC Bank, Sydney Branch
|
| Issue: | Senior floating-rate notes
|
| Amount: | A$350 million
|
| Maturity: | Three years
|
| Coupon: | Bank Bill Swap rate plus 68 bps
|
| Bookrunners: | OCBC Bank, Commonwealth Bank of Australia, Hongkong and Shanghai Banking Corp. Ltd. and J.P. Morgan Australia Ltd.
|
| Settlement date: | Aug. 22
|
| Ratings: | Moody's Investors Service: Aa1
|
| Standard & Poor's: AA-
|
| Fitch Ratings: AA-
|
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