By Rebecca Melvin
New York, Jan. 8 – Singapore’s Oversea-Chinese Banking Corp. Ltd. priced a A$150 million add-on to its senior floating-rate notes due 2022, according to a company notice.
The notes (expected: Aa1/AA-/AA-), which form a single series with the A$550 million of senior floating rate notes issued on May 23, 2019, were issued at 100.315 and bear interest at the three-month Bank Bill swap rate plus 62 basis points.
Westpac Banking Corp. acted as lead manager and bookrunner for the issue.
Application is being made to list the bonds on the Singapore Exchange Securities Trading Ltd. and are expected to be listed on Jan. 16.
The issuer is a financial group based in Singapore.
| Issuer: | Oversea-Chinese Banking Corp. Ltd.
|
| Issue: | Senior floating-rate notes
|
| Amount: | A$150 million add-on
|
| Maturity: | 2022
|
| Bookrunner: | Westpac Banking Corp.
|
| Coupon: | Three-month Bank Bill swap rate plus 62 bps
|
| Price: | 100.315
|
| Announcement date: | Jan. 8
|
| Listing date: | Jan. 16
|
| Expected ratings: | Moody’s: Aa1
|
| S&P: AA-
|
| Fitch: AA-
|
| Total deal size: | A$700 million, including A$550 million issued May 23, 2019
|
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