OCBC to issue A$1 billion of senior floating-rate green notes due 2026
OCBC Bank has priced A$1 billion (S$894.8 million) of senior floating-rate green notes due 2026 under its US$30 billion global medium term note programme.
The notes will be issued by OCBC, acting through its Sydney branch, and are expected to be repo eligible by the Reserve Bank of Australia.
The notes will bear interest at the three-month bank bill swap rate plus 0.78 per cent per annum, payable quarterly in arrears. They are expected to be rated “Aa1” by Moody’s, “AA-” by S&P Global Ratings, and “AA-” by Fitch Ratings.
The notes are expected to be issued on May 18, 2023 and listed on the Singapore Exchange on May 19, 2023.
OCBC said the net proceeds will go towards financing or refinancing new or existing qualifying assets as described under the eligibility criteria for green bonds in the OCBC Sustainability Bond Framework.
Australia and New Zealand Banking Group, National Australia Bank, OCBC Bank and Westpac Banking Corporation acted as joint lead managers for this issue.
Shares of OCBC closed S$0.02 or 0.2 per cent down at S$12.30 on Thursday (May 11) before the announcement.
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