OCBC Prices US$750 Million Covered Bonds Due 2029

SGX Filings
Sep 04

OCBC (O39) announced that it has priced US$750 million of 4.630 per cent covered bonds due 2029 under its US$10 billion Global Covered Bond Programme. The bonds, to be issued on Sep, 11 2026, will pay interest semi-annually and are expected to be rated Aaa by Moody’s Investors Service and AAA by Fitch Ratings.

The securities will be guaranteed by Red Sail Pte. Ltd., secured by a portfolio of assets purchased from OCBC. Net proceeds are earmarked for the bank’s general corporate purposes.

Bank of Montreal, Crédit Agricole Corporate and Investment Bank, ING Bank, OCBC, Standard Chartered Bank and UBS AG acted as joint lead managers.

OCBC intends to list the covered bonds on the Singapore Exchange on Sep, 14 2026.

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