By Marisa Wong
Madison, Wis., March 14 - Oversea-Chinese Banking Corp. Ltd. priced A$400 million three-year floating-rate notes (expected: Aa1/AA-/AA-), according to a notice.
The notes will bear interest at the three-month bank bill swap rate plus 65 basis points.
OCBC Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corp. are the joint lead managers and bookrunners for the deal.
The notes will be issued under the bank's $10 billion global medium-term note program.
Proceeds will be used for general corporate purposes.
Settlement is slated of March 24.
The issuer is a financial group based in Singapore.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Issue: | Senior floating-rate notes
|
| Amount: | A$400 million
|
| Maturity: | Three years
|
| Coupon: | Bank bill swaps plus 65 bps
|
| Bookrunners: | OCBC Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corp.
|
| Announcement date: | March 14
|
| Settlement date: | March 24
|
| Ratings: | Moody's: Aa1 (expected)
|
| Standard & Poor's: AA- (expected)
|
| Fitch: AA- (expected)
|
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