trending Market Intelligence /marketintelligence/en/news-insights/trending/jtoca4_n-d1qhoy-5gyrya2 content esgSubNav
In This List

OCBC to issue €500M of covered bonds

Blog

Banking Essentials Newsletter: July 24th Edition

Blog

Banking Essentials Newsletter: July 10th Edition

Blog

Enabling Growth in the EMEA Loan Market

Podcast

Masters of Risk | Episode 12 - Women's Panel


OCBC to issue €500M of covered bonds

Oversea-Chinese Banking Corp. Ltd. plans to issue €500 million of fixed-rate covered bonds.

The bonds were priced with a fixed rate of 0.375% per year and are due 2023. They are expected to be issued on March 1 and listed on the Singapore Exchange Securities Trading Ltd. on March 2.

The bonds, which will be issued under OCBC's US$10 million global covered bonds program, will be guaranteed as to payments of interest and principal by Red Sail Pte. Ltd. The guarantee will be secured by a portfolio of assets purchased by Red Sail from OCBC and other assets of Red Sail.

The net proceeds from the issuance will be used for general corporate purposes.

Barclays Bank PLC's Singapore branch, BNP Paribas, Norddeutsche Landesbank Girozentrale, OCBC and UniCredit Bank AG are the joint lead managers for the issue.