OCBC Bank prices A$500m of senior unsecured notes

The notes have been rated Aa1 by Moody’s, AA- by Fitch and A+ by Standard & Poor’s.

Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) announced that it has successfully priced A$500 million of 3-year senior unsecured notes (“Notes”) in an offering targeted mainly at Australian and Asian institutional and sophisticated investors.

The Notes will be issued by OCBC Bank, acting through its Sydney Branch, and are expected to be Repo Eligible by the Reserve Bank of Australia. The net proceeds from the issue of the Notes will be used for the general funding purposes of OCBC Bank. OCBC Bank, National Australia Bank Limited, The Royal Bank of Scotland, plc, and Westpac Banking Corporation acted as Joint Lead Managers and Joint Bookrunners for this issue.

The Notes will bear interest at the 3-month Bank Bill Swap reference rate plus 0.83%, payable quarterly in arrears on 14 January, 14 April, 14 July and 14 October in each year up to the maturity date on 14 July 2014. The Notes will be issued under OCBC Bank’s US$5 billion Programme for Issuance of Debt Instruments (“Programme”), and have been rated Aa1 by Moody’s Investors Service, AA- by Fitch Ratings Ltd and A+ by Standard & Poor’s Ratings Services, accoding to an OCBC report.

The Notes are expected to be issued on 14 July 2011. Application has been made for the listing of the Notes on the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the Notes are expected to be listed on the SGX-ST on 15 July 2011. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions or reports contained herein. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of OCBC Bank or the Programme or the Notes.