Strong demand sees StanChart upsize Singapore deal

Bank increases five-year issue to S$300 million.

Standard Chartered announced on Friday that the size of its first Sing dollar-denominated bond of 2003 - launched on Monday - was increased from S$200 million ($115 3 million) to S$300 million, following "overwhelming response from investors "

StanChart lead managed the transaction, with by Credit Suisse First Boston, Lehman Brothers, Moscow Narodny Bank and UBS Warburg acting as co-managers

The coupon of the five-year notes was fixed at 2 35% p a , payable semi-annually to investors The bonds priced at 99 99 to yield 2 354%, which currently represents a spread pick up of 59bp over five-year government bonds and between 30-35bp over swaps

The transaction was two times oversubscribed, which according to StanChart...

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