(August 17 10:28) Sbr.com.sg
Submitted By:
Luz Wendy Noble
Case Study:
No
They will be issued by 24 August and will be first callable in 2023.
OCBC Bank priced its $1b perpetual capital securities at 4% and will be first callable in 2023 under its US$30b Global Medium Term Note Program. Net proceeds from the issue of the capital securities shall be used for the general corporate purposes of OCBC Bank.
The bank explained that the capital securities are meant to qualify as Additional Tier 1 capital of the bank based on the requirements of the Monetary Authority of Singapore (MAS).
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