By Cristal Cody
Tupelo, Miss., Jan. 8 – Standard Chartered plc priced $2 billion of 2.819% subordinated notes due Jan. 30, 2026 (Baa2/BBB-/A-) on Tuesday at a spread of Treasuries plus 120 basis points, according to market sources.
Initial guidance was in the Treasuries plus 135 bps area.
The notes have a five-year non-call period.
BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Standard Chartered Bank and UBS Securities LLC were the lead managers.
Standard Chartered is a London-based banking and financial services company.
| Issuer: | Standard Chartered plc
|
| Amount: | $2 billion
|
| Description: | Subordinated notes
|
| Maturity: | Jan. 30, 2026
|
| Bookrunners: | BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Standard Chartered Bank and UBS Securities LLC
|
| Coupon: | 2.819%
|
| Spread: | Treasuries plus 120 bps
|
| Call feature: | After five years
|
| Trade date: | Jan. 7
|
| Ratings: | Moody’s: Baa2
|
| S&P: BBB-
|
| Fitch: A-
|
| Price guidance: | Treasuries plus 135 bps area
|
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