By Marisa Wong
Morgantown, W.Va., Feb. 15 – Oversea-Chinese Banking Corp. Ltd. said it priced A$500 million of one-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 49 basis points.
Australia and New Zealand Banking Group Ltd., Citigroup Global Markets Australia Pty. Ltd. and National Australia Bank 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
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Issue: | Senior floating-rate notes
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Amount: | A$500 million
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Maturity: | 2018
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Coupon: | Bank Bill swap rate plus 49 bps
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Bookrunners: | Australia and New Zealand Banking Group Ltd., Citigroup Global Markets Australia Pty. Ltd. and National Australia Bank
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Announcement date: | Feb. 15
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Settlement date: | Feb. 22
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Expected ratings: | Moody’s: Aa1
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| Standard & Poor’s: AA-
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| Fitch: AA-
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