By Cristal Cody
Tupelo, Miss., Oct. 7 – Standard Chartered plc (A2/BBB+/A) sold $1.5 billion of notes due Oct. 14, 2023 in two tranches on Tuesday, according to market sources.
A $500 million offering of three-year floating-rate notes priced at SOFR plus 125 basis points.
Standard Chartered sold $1 billion of 1.319% three-year notes at a spread of Treasuries plus 117 bps.
Initial price guidance was in the Treasuries plus 150 bps area.
Both tranches have a two-year non-call period.
Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Nomura Securities International, Inc. and Standard Chartered Bank were the lead managers.
Standard Chartered is a London-based banking and financial services company.
| Issuer: | Standard Chartered plc
|
| Amount: | $1.5 billion
|
| Description: | Notes
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, Nomura Securities International, Inc. and Standard Chartered Bank
|
| Trade date: | Oct. 6
|
| Ratings: | Moody’s: A2
|
| S&P: BBB+
|
| Fitch: A
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | Oct. 14, 2023
|
| Coupon: | SOFR plus 125 bps
|
| Call feature: | After two years
|
|
|
| Three-year notes
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| Amount: | $1 billion
|
| Maturity: | Oct. 14, 2023
|
| Coupon: | 1.319%
|
| Spread: | Treasuries plus 117 bps
|
| Call feature: | After two years
|
| Price guidance | Treasuries plus 150 bps area
|
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