New ABN Amro 10-year SGD bond issue gets strong demand
Add BT as a preferred source
ABN Amro Bank sold on Wednesday a new 10-year Singapore dollar (SGD) bond issue which is said to have received strong demand.
The last update sent to investors after books closed after 3pm said that orders were in excess of S$1.3 billion. The final price is 4.75 per cent, lower than the initial price guidance of 4.85 per cent area.
The bonds are a 10-year, non-call 5 issue. Non-call 5 means the issuer will not call or redeem the bonds before five years.
Issue size, which has not been decided, is benchmark for an SGD issue which ranges from S$200 million to S$300 million.
"The hard work of allocation and deciding on the size begins now," said a banker close to the deal.
Issuer ratings are A2 (stable) / A (stable) / A (stable) (Moody's / S&P / Fitch).
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The issue is expected to be rated Baa3 / BBB- / A- (Moody's / S&P / Fitch).
Joint lead managers are DBS Bank, HSBC and Standard Chartered Bank.
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams
Is it time to scrap COE categories for cars?
