By Marisa Wong
Los Angeles, June 29 – Standard Chartered plc priced $2.5 billion of notes in three tranches on Wednesday, according to a market source.
Standard Chartered priced $500 million of notes due July 6, 2027 at SOFR plus 193 basis points.
The two fixed-rate tranches consist of $1 billion of 6.187% notes due July 6, 2027, priced with a spread of 185 bps over Treasuries, and $1 billion of 6.296% notes due July 6, 2034, priced with a spread of 258 bps over Treasuries.
Initial price talk was in the Treasuries plus 210 bps area, revised from Treasuries plus 215 bps area, for the 2027 fixed-rate tranche and the Treasuries plus 280 bps area, revised from the Treasuries plus 285 bps area, for the 2034 fixed-rate tranche.
The two tranches of 2027 notes are non-callable for three years, and the 2034 notes are non-callable for 10 years.
Standard Chartered Bank, BNP Paribas, Goldman Sachs, Morgan Stanley and TD Securities are the bookrunners.
The bank is based in London.
| Issuer: | Standard Chartered plc
|
| Amount: | $2.5 billion
|
| Issue: | Notes
|
| Bookrunners: | Standard Chartered Bank, BNP Paribas, Goldman Sachs, Morgan Stanley and TD Securities
|
| Pricing date: | June 28
|
|
|
| 2027 floaters
|
| Amount: | $500 million
|
| Maturity: | July 6, 2027
|
| Coupon: | SOFR plus 193 bps
|
| Call: | Non-callable for three years
|
| Price talk: | SOFR plus an equivalent spread
|
|
|
| 2027 fixed-rate notes
|
| Amount: | $1 billion
|
| Maturity: | July 6, 2027
|
| Coupon: | 6.187%
|
| Spread: | Treasuries plus 185 bps
|
| Call: | Non-callable for three years
|
| Initial price talk: | Treasuries plus 210 bps area, revised from Treasuries plus 215 bps area
|
|
|
| 2034 fixed-rate notes
|
| Amount: | $1 billion
|
| Maturity: | July 6, 2034
|
| Coupon: | 6.296%
|
| Spread: | Treasuries plus 258 bps
|
| Call: | Non-callable for 10 years
|
| Initial price talk: | Treasuries plus 280 bps area, revised from Treasuries plus 285 bps area
|
|
|
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