OCBC Bank Issues EUR500 Million Bonds

By Chester YungFeaturesDow Jones Newswires

Oversea-Chinese Banking Corp. Ltd. (O39.SG) said Friday it has priced EUR500 million (US$589 million) worth of fixed-rate covered bonds due 2022 at 0.25% and will use the net proceeds for general corporate purposes.

The Singapore-listed bank said the bonds are expected to be rated Aaa by Moody's Investors Service and AAA by Fitch Ratings. The above bond issue is under its US$10 billion Global Covered Bond Programme, the bank added.

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Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

September 28, 2017 20:14 ET (00:14 GMT)