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Singapore CNY bond successfully closed

28/05/2013Business / RMB News / Asia

Standard Chartered PLC is pleased to announce that it has raised CNY1 billion through a Singapore-listed offshore Renminbi bond. The three-year senior unsecured issuance priced with a coupon of 2.625% after generating over CNY3 billion in orders from 75 investors across Asia.

With settlement of the bond set for 31 May, this will be the first offshore CNY bond that is listed, cleared and settled in Singapore.  The bond will be listed on the Singapore Exchange (SGX-ST) cleared via The Central Depository (Pte) Limited and settled through ICBC Singapore.

Lenny Feder, Group Head of Financial Markets, Standard Chartered Bank, commented, “This landmark RMB issuance out of Singapore closed with very positive support from investors. The orderbook was three times subscribed with significant demand from some of the largest institutional investors in the region. Our strong partnership with the Singapore regulators allowed us to launch the deal very swiftly and successfully open this important market. In the wake of this deal, we anticipate increased interest in similar transactions from Asian companies, given the greater ease of access to and familiarity with a Singapore-based clearing and settlement system. Our capabilities and rich experience in RMB solutions allow Standard Chartered to continue supporting our clients in their RMB business.”

Magnus Bocker, CEO of Singapore Exchange, said, “As Singapore’s role as an international offshore RMB centre becomes increasingly important, customers coming to Singapore Exchange can be assured of our commitment to keep growing and enhancing our suite of RMB and China-related products and services. We welcome Standard Chartered’s CNY bond and look forward to more financial institutions, corporates and investors participating in the RMB market via Singapore and SGX.”


For further information please contact:

Valerie Tay
Business Corporate Affairs
Tel: +65 6596 9284
Email: Valerie.Tay@sc.com

 

Note to Editors

Standard Chartered – leading the way in Asia, Africa and the Middle East

Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank’s growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.

With 1,700 offices in 68 markets, the Group offers exciting and challenging international career opportunities to over 89,000 staff. It is committed to building a sustainable business over the long term and upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered’s heritage and values are expressed in its brand promise, ‘Here for good’.

For further information please visit www.standardchartered.com. Follow Standard Chartered on www.facebook.com/standardchartered and on Twitter @StanChart.

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