OCBC sells largest Basel III bond in Asia ex-Japan

The Singaporean bank raised a $1 billion 10.5-year Basel III-compliant bond to help fund its expansion and replenish old-style debt.

OCBC sells largest Basel III bond in Asia ex-Japan

Oversea-Chinese Banking Corporation sold a $1 billion 10.5-year Basel III-compliant Tier 2 bond on Tuesday, illustrating the Singapore bank’s ongoing push to boost its capital in order to fund its growth and replenish maturing old-style subordinated debt.

OCBC's new bond   callable in year 5.5 is the largest Basel III-compliant dollar deal and the first-ever bank capital transaction in the 144A market in Asia ex-Japan, according to Dealogic.

The...

To continue reading, please login or register for free

Click for more on: compliance | bonds | singapore | ocbc bank

Print Edition

FinanceAsia Print Edition

CONFERENCES