FINANCIAL SERVICES | Staff Reporter, Singapore

OCBC mulls issuing US$1b covered bonds

The bonds will be issued in the summer.

Another Singaporean bank is looking to issue coverred bonds. Oversea-Chinese Banking Corporation, the second-largest lender in Singapore, is planning a covered bond programme via Barclays and Credit Agricole, according to a report by Reuters.

Citing multiple sources familiar with the issue, the report said that OCBC will be appointing bookrunners for a debut 144A/Reg S bond that will be issued from the programme. The new bonds will target a US$1bn size and is expected to be issued in the summer, said the sources.

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