OCBC prices £1 billion floating rate covered bonds due 2029

OCBC has priced £1 billion (S$1.7 billion) in floating rate covered bonds due 2029, with interest rates based on the compounded daily Sterling Overnight Index Average (Sonia) rate plus 0.48 per cent per annum. The bonds are expected to be issued on Aug 26 and listed on the Singapore Exchange on Aug 27, with Moody's Investors Services rating them Aaa and Fitch Ratings assigning an AAA rating.

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