By Cristal Cody
Tupelo, Miss., March 12 – Standard Chartered plc priced $1.75 billion of notes in two tranches on Monday, according to a market source.
Standard Chartered sold $1.25 billion of 3.885% fixed-to-floating rate notes due March 15, 2024 at a spread of Treasuries plus 125 basis points, on the tight side of guidance in the Treasuries plus 130 bps area. The notes will convert to a floating rate of Libor plus 108 bps after the initial fixed-rate period.
The company priced $500 million of 4.866% notes due March 15, 2033 on top of guidance at a spread of 200 bps over Treasuries.
Barclays, Credit Agricole CIB, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Standard Chartered Bank were the lead managers.
Standard Chartered is a London-based banking and financial services company.
| Issuer: | Standard Chartered plc
|
| Amount: | $1.75 billion
|
| Description: | Notes
|
| Bookrunners: | Barclays, Credit Agricole CIB, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Standard Chartered Bank
|
| Trade date: | March 12
|
|
|
| Six-year notes
|
| Amount: | $1.25 billion
|
| Description: | Fixed-to-floating rate notes
|
| Maturity: | March 15, 2024
|
| Coupon: | 3.885%; converts to floating rate of Libor plus 108 bps after initial fixed-rate period
|
| Spread: | Treasuries plus 125 bps
|
| Price guidance: | Treasuries plus 130 bps area
|
|
|
| 15-year notes
|
| Amount: | $500 million
|
| Description: | Fixed-rate notes
|
| Maturity: | March 15, 2033
|
| Coupon: | 4.866%
|
| Spread: | Treasuries plus 200 bps
|
| Price guidance: | Treasuries plus 200 bps area
|
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