OCBC issues A$300m debt

OVERSEA-CHINESE Banking Corporation (OCBC) on Thursday said it has priced A$300 million (S$309.8 million) of senior floating rate notes due 2020 at the three-month bank bill swap reference rate plus 1.2 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, and are expected to be issued on March 17, 2016. They should be listed on March 18, 2016, on the Singapore Exchange.

The notes, issued under its US$10 billion global medium term note programme, will be used for general corporate purposes.