OCBC Bank issues US$1b of fixed rate senior bonds

The bonds will bear interest at the rate of 1.625% per annum, payable semi-annually in arrear.

The bonds are expected to be issued on 13 March 2012 and list on the Singapore Exchange Securities Trading Limited on 14 March 2012.

OCBC Bank announced, “Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) has priced US$1 billion of fixed rate senior bonds (“Bonds”) due 13 March 2015. The Bonds have been offered in offshore transactions outside the United States in reliance on Regulation S and in the United States to qualified institutional buyers as defined in Rule 144A under the Securities Act. The net proceeds from the issue of the Bonds will be used for general corporate purposes of OCBC Bank.”

Citigroup Global Markets Singapore Pte. Ltd. acted as Global Coordinator, and OCBC Bank, Citigroup Global Markets Singapore Pte. Ltd., Credit Suisse (Singapore) Limited and Morgan Stanley Asia (Singapore) Pte. acted as Joint Lead Managers and Bookrunners for the issue. CIMB Bank (L) Limited and Daiwa Capital Markets Hong Kong Limited acted as Co-Managers.