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Singapore's Great Eastern establishes S$2 billion euro note program
By Mary-Katherine Stinson
Lexington, Ky., March 15 – Great Eastern Holdings Ltd. and Great Eastern Life Assurance Co. Ltd. announced the establishment of a S$2 billion euro medium-term note program, according to an offering circular.
Great Eastern and Great Eastern Life said they may issue notes, including subordinated notes and perpetual capital securities, from time to time in dollars, euros, sterling, Hong Kong dollars, Singapore dollars, renminbi or in other currencies as agreed.
They will be offered and sold outside of the United States under Regulation S.
Proceeds will be used for general corporate purposes and for funding working capital and future growth plans.
Oversea-Chinese Banking Corp. Ltd. is the arranger and dealer for the program.
Bank of New York Mellon, London Branch will be the trustee.
Allen & Gledhill LLP is legal counsel for the issuers. Linklaters Singapore Pte. Ltd. will represent the dealer and Linklaters will advise the trustee as to English legal matters.
Based in Singapore, Great Eastern holds insurance companies in Singapore, Malaysia, Brunei, Indonesia, China and Vietnam.
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