HG bonds: Standard Chartered returns with $2B, 2-part offering; terms

Standard Chartered PLC today completed a $2 billion offering across 2028 unsecured notes and 2033 subordinated notes.

Standard Chartered tapped the U.S. bond market four times in 2021. Most recently, in November, it placed a $1.5 billion, two-part offering of four-year (non-call three) notes due Nov. 23, 2025, across a $500 million floating-rate tranche at Sofr+93 and a $1 billion tranche of 1.822% fixed-rate reset notes at T+95. In June 2021, it printed a $1.25 billion offering of 2.678% 11-year (non-call 10) fixed-rate reset senior notes at T+120. The U.K. bank in March 2021 completed a $500 million offering of par-priced 1.214% four-year (non-call three) sustainability notes at T+88. In January 2021, it placed a $3 billion, two-part senior offering across $1.5 billion each of 0.991% four-year (non-call three) notes at T+78 and 1.456% six-year (non-call five) notes at T+100.

Terms: