OCBC prices $733m covered bonds due 2027

Oversea-Chinese Banking Corporation Limited has priced $733b in fixed-rate covered bonds under its $10b Global Covered Bond Programme.

The bonds carry an annual interest rate of 3.29% and will be issued on 11 June, with proceeds used for Additionally, these bonds are expected to receive top ratings of Aaa from Moody’s and AAA from Fitch. Payments will be guaranteed by Red Sail Pte. Ltd., backed by assets purchased from OCBC. Financial institutions, including Barclays Bank PLC, Singapore Branch, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Singapore Branch, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, ING Bank N.V., Norddeutsche Landesbank-Girozentrale, and OCBC, served as joint lead managers. Commerzbank Aktiengesellschaft and Landesbank Baden-Württemberg acted as co-managers for this issuance....

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