OCBC to issue 500m euros of 5-year covered bonds at 0.375% coupon
OCBC Bank is issuing 500 million euros (S$813.2 million) of five-year covered bonds at a fixed coupon of 0.375 per cent under an existing programme.
The bonds will be issued on March 1, 2018, under the bank's US$10 billion global covered bond programme, and they will mature in 2023.
The bonds will be secured by a portfolio of assets. Moody's Investors Services is expected to rate the paper "Aaa", while Fitch Ratings is expected to assign a "AAA" rating.
Net proceeds will be used for general corporate purposes.
Barclays Bank, BNP Paribas, Norddeutsche Landesbank, OCBC and UniCredit Bank are the joint lead managers.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Starbucks points to weaker consumer as profit falls
Trump social media firm's rising shares pressure short-sellers: S3
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire
Europe: Stoxx ends lower as auto giants weigh; investors parse inflation data
US: Wall Street stocks fall as markets weigh strong wage data, Fed meeting
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions