By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., Nov. 1 – Standard Chartered plc sold $1.9 billion of notes in three tranches on Tuesday, according to a market source.
Standard Chartered priced $400 million of notes due Feb. 8, 2028 at SOFR plus 203 basis points.
The two fixed-rate tranches consist of $750 million of 6.75% notes due Feb. 8, 2028, priced with a spread of 185 bps over Treasuries, and $750 million of 7.018% notes due Feb. 8, 2030, priced with a spread of 220 bps over Treasuries.
Initial price talk was in the Treasuries plus 205 bps area for the 2028 fixed-rate tranche and the Treasuries plus 235 bps area for the 2030 fixed-rate tranche.
The two tranches of 2028 notes are non-callable for 3.25 years, and the 2030 notes are non-callable for 5.25 years.
Standard Chartered Bank, Barclays, Citigroup, JPMorgan, Societe Generale and UBS are the bookrunners.
The bank is based in London.
| Issuer: | Standard Chartered plc
|
| Amount: | $1.9 billion
|
| Issue: | Notes
|
| Bookrunners: | Standard Chartered Bank, Barclays, Citigroup, JPMorgan, Societe Generale and UBS
|
| Pricing date: | Oct. 31
|
|
|
| 2028 floaters
|
| Amount: | $400 million
|
| Maturity: | Feb. 8, 2028
|
| Coupon: | SOFR plus 203 bps
|
| Call: | Non-callable for 3.25 years
|
| Price talk: | SOFR plus an equivalent spread
|
|
|
| 2028 fixed-rate notes
|
| Amount: | $750 million
|
| Maturity: | Feb. 8, 2028
|
| Coupon: | 6.75%
|
| Spread: | Treasuries plus 185 bps
|
| Call: | Non-callable for 3.25 years
|
| Price talk: | Treasuries plus 205 bps area
|
|
|
| 2030 fixed-rate notes
|
| Amount: | $750 million
|
| Maturity: | Feb. 8, 2030
|
| Coupon: | 7.018%
|
| Spread: | Treasuries plus 220 bps
|
| Call: | Non-callable for 5.25 years
|
| Price talk: | Treasuries plus 235 bps area
|
|
|
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