By Marisa Wong
Morgantown, W.Va., Nov. 4 – Oversea-Chinese Banking Corp. Ltd. said it priced A$400 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 86 basis points.
Commonwealth Bank of Australia, National Australia Bank, OCBC Bank and Westpac Banking Corp. are the joint 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$400 million
|
| Maturity: | Three years
|
| Bookrunners: | Commonwealth Bank of Australia, National Australia Bank, OCBC Bank, Westpac Banking Corp.
|
| Coupon: | Bank Bill swap rate plus 86 bps
|
| Settlement date: | Nov. 12
|
| Expected ratings: | Moody’s: Aa1
|
| Standard & Poor’s: AA-
|
| Fitch: AA-
|
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