Standard Chartered Plc issued $1.75 billion in two series of international bonds.
The first series, which amounted to $1.25 billion, will mature March 15, 2024. The second series amounted to $500 million and will mature March 15, 2033. The notes in both series were sold at par.
The $1.25 billion notes will carry a fixed-rate coupon of 3.885% until March 15, 2023, when they will reset to a floating-rate coupon equivalent to the three-month U.S. dollar London Interbank Offered Rate plus 1.08%, according to a term sheet published March 15.
The $500 million notes carry a fixed coupon of 4.866%, and have an optional redemption date and first reset date of March 15, 2028, according to their term sheet. If not redeemed, the notes will reset to a coupon equivalent to three-month U.S. dollar midswaps plus 1.97%.
Barclays Capital Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Standard Chartered Bank served as joint lead managers on the offerings, with ABN AMRO Securities (USA) LLC, Bank of Communications Co. Ltd. Hong Kong branch, China Construction Bank Corp. Singapore branch, CIMB Bank (L) Ltd., Deutsche Bank Securities Inc., Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, Industrial and Commercial Bank of China Ltd. Singapore branch, UBS Securities LLC and United Overseas Bank Ltd. serving as co-lead managers.
