OCBC Bank priced A$500 million of senior floating rate green notes due 2022 at the three-month bank bill swap reference rate plus 0.63 percent a year, the bank said in a filing to SGX Tuesday.
“OCBC Bank will allocate the net proceeds from the notes towards the financing or refinancing of new or existing qualifying assets
and projects as described under the eligibility criteria in the OCBC sustainability bond framework,” the bank said.
The notes will be issued under OCBC’s US$30 billion global medium term note program, with the bank acting through its Sydney branch, the filing said, adding the notes are expected to be repo eligible by the Reserve Bank of Australia.
Moody’s Investors Service is expected to rate the bonds at Aa1, while S&P Global Ratings and Fitch Ratings are both expected to rate them at AA-minus, the filing said.
The notes are expected to be issued on 5 December and an application will be made to list them on SGX, the filing said.
ANZ, BNP Paribas, Commonwealth Bank of Australia, OCBC Bank and Westpac Banking acted as joint lead managers and bookrunners, the bank said.