By Marisa Wong
Morgantown, W.Va., Aug. 28 – Singapore’s Oversea-Chinese Banking Corp. Ltd. priced A$500 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 72 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 on Sept. 6 through the bank’s Sydney branch under its $30 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., Sydney Branch
|
| Issue: | Senior floating-rate notes
|
| Amount: | A$500 million
|
| Maturity: | 2021
|
| Bookrunners: | Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, National Australia Bank, OCBC Bank and Westpac Institutional Bank
|
| Coupon: | Three-month Bank Bill swap rate plus 72 bps
|
| Announcement date: | Aug. 28
|
| Settlement date: | Sept. 6
|
| Expected ratings: | Moody’s: Aa1
|
| S&P: AA-
|
| Fitch: AA-
|
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