By Marisa Wong
Morgantown, W.Va., Sept. 25 – Singapore’s Oversea-Chinese Banking Corp. Ltd. priced A$300 million of senior floating-rate notes due 2020, according to a company notice.
The notes (expected: Aa1/AA-/AA-) will bear interest at the three-month Bank Bill swap rate plus 60 basis points.
Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, National Australia Bank, OCBC Bank and Westpac Institutional Bank acted as joint lead managers and bookrunners.
The notes will be issued through the bank’s Sydney branch under its $10 billion global medium-term note program.
Proceeds will be used for the general corporate purposes.
The issuer is a financial group based in Singapore.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Issue: | Senior floating-rate notes
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| Amount: | A$300 million
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| Maturity: | 2020
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| Coupon: | Three-month Bank Bill swap rate plus 60 bps
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| Bookrunners: | Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, National Australia Bank, OCBC Bank and Westpac Institutional Bank
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| Expected ratings: | Moody’s: Aa1
|
| S&P: AA-
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| Fitch: AA-
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| Announcement date: | Sept. 25
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| Settlement date: | Oct. 6
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