OCBC prices A$100 million floating-rate notes

OCBC Bank on Friday said it has priced its A$100 million senior floating rate notes due 2018. The notes will pay interest equivalent to the three-month bank bill swap reference rate plus 0.86 per cent, per annum.

The notes are expected to be rated Aa1 by Moody's Investors Service Inc, AA- by Standard & Poor's Ratings Services and AA- by Fitch Ratings Ltd. They should be issued on Dec 2, and listed on the Singapore Exchange on Dec 3.

These were priced as part of the bank's US$10 billion global medium-term note programme. The net proceeds from the issue of the notes will be used for the general corporate purposes of the bank.