By Marisa Wong
Morgantown, W.Va., April 17 – Singapore’s Oversea-Chinese Banking Corp. Ltd. priced A$600 million of senior floating-rate notes due 2021, according to a company notice.
The notes (expected: Aa1/AA-/AA-) will bear interest at the three-month Bank Bill swap rate plus 70 basis points.
Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, OCBC Bank, UBS AG, Australia Branch and Westpac Banking Corp. acted as joint lead managers and bookrunners.
The notes will be issued through the bank’s Sydney branch under its $30 billion global medium-term note program.
Proceeds will be used for general corporate purposes.
The issuer is a financial group based in Singapore.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Issue: | Senior floating-rate notes
|
| Amount: | A$600 million
|
| Maturity: | 2021
|
| Bookrunners: | Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, OCBC Bank, UBS AG, Australia Branch and Westpac Banking Corp.
|
| Coupon: | Three-month Bank Bill swap rate plus 70 bps
|
| Announcement date: | April 17
|
| Settlement date: | April 23
|
| Expected ratings: Moody’s: Aa1
|
| S&P: AA-
|
| Fitch: AA-
|
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