The Hong Kong branch of Standard Chartered Bank, has priced lower tier 2 bond worth $586.59 million, Fox Business reports. The bond, maturing in 10 years, will be sold at a yield of 4.15 percent. The London-based bank provides personal and business banking services in Asia, Africa, the Middle East, the U.K., Europe and the Americas.
When the notes become callable after five years, coupon rate of the bond will be reset to a fixed rate of the prevailing five-year Singapore swap offer rate plus 297.5 basis points over the five-year SOR at the time of pricing. Standard Chartered serves as lead manager on the proposed offering.
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Standard Chartered Bank Hong Kong Asia Europe Fox Business