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...