OCBC prices €500m covered bonds due 2028

The covered bonds are offered at a fixed rate of 2.481% per annum.

Oversea-Chinese Banking Corporation (OCBC) is offering €500m covered bonds at a fixed rate of 2.481%, per annum payable annually in arrears.

Due 2028, the covered bonds are issued under the US$10b Global Covered Bond Programme.

Proceeds from this issuance will be used for the general corporate purposes of OCBC.

The covered bonds are expected to be listed on the Singapore Exchange Securities Trading Limited (SGX-ST) on 11 April.

Barclays, ING, LBBW, OCBC, Société Générale, and UBS acted as the joint lead managers for this issuance.

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