OCBC issues A$500m senior floating rate notes due 2021

It will be rolled out by 6 September.

OCBC Bank priced A$500m of senior floating rate notes due 2021 under its US$30b Global Medium Term Note Program, an announcement revealed. Its net proceeds will be utilised for the general corporate purposes of the bank.

The bank will issue said notes acting through its Sydney Branch. Said notes are expected to be Repo Eligible by the Reserve Bank of Australia.

According to an announcement, the notes which are expected to be issued on 6 September will bear interest at the 3-month Bank Bill Swap reference rate plus 0.72% per annum, payable quarterly in arrear.

Joint lead managers and bookrunners for the notes include Australia and New Zealand Banking Group, Commonwealth Bank of Australia, OCBC Bank, and Westpac Banking Corporation.

OCBC has applied for the listing of the notes on the Singapore Exchange Securities Trading Limited (SGX-ST). With this, they are expected to be listed by 7 September.

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