By Wendy Van Sickle
Columbus, Ohio, March 14 – Singapore’s Oversea-Chinese Banking Corp. Ltd. priced €500 million 0.25% covered bonds due 2022, according to a company notice.
Barclays Bank plc, Singapore Branch, BNP Paribas, Credit Agricole CIB, Singapore Branch, J.P. Morgan Securities plc and Oversea-Chinese Banking Corp. Ltd. acted as joint lead managers.
The bonds are being issued under the company’s $10 billion global covered bond program.
Red Sail Pte. Ltd. will be the covered bond guarantor.
Proceeds will be used for the general corporate purposes.
The issuer is a financial group based in Singapore.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
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| Guarantor: | Red Sail Pte. Ltd.
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| Amount: | €500 million
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| Maturity: | 2022
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| Description: | Covered bonds
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| Lead managers: | Barclays Bank plc, Singapore Branch, BNP Paribas, Credit Agricole CIB, Singapore Branch, J.P. Morgan Securities plc and Oversea-Chinese Banking Corp. Ltd.
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| Coupon: | 0.25%
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| Expected ratings: | Moody’s: Aaa
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| Fitch: AAA
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| Pricing date: | March 15
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| Settlement date: | March 21
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