OVERSEA-CHINESE BANKING CORPORATION LIMITED Oversea-Chinese Banking Corporation Limited has priced AUD 300 million of senior floating rate notes due 2020 under its USD 10 billion global medium term note program. The notes will be issued by OCBC Bank, acting through its Sydney Branch, and are expected to be Repo eligible by the Reserve Bank of Australia. The net proceeds from the issue of the Notes will be used for the general corporate purposes of OCBC Bank.
The Notes will bear interest at the 3-month Bank Bill Swap reference rate plus 1.20% per annum, payable quarterly in arrear. The Notes are expected to be issued on 17 March 2016. Commonwealth Bank of Australia, National Australia Bank, OCBC Bank, and UBS AG, Australia Branch acted as Joint Lead Managers and Book-runners for this issue.
An application will be made for the listing of the Notes on the Singapore Exchange Securities Trading Limited and the Notes are expected to be listed on the SGX-ST on 18 March 2016.
