Standard Chartered PLC launches 10 year USD 1.25bn Tier 2
debt issue to strong investor demand
Standard Chartered PLC today launched and priced a USD
$1.25bn Tier 2 10 year bond at UST +335 bps. The
tight pricing achieved - with the book covered more than 7
times - clearly demonstrates the strength of Standard
Chartered's franchise amongst investors.
The issue is callable after 5 years and was allocated
amongst a very diverse investor base, including private
banks (39.6%), insurances companies (7.2%), asset managers
(23.5%) and banks (22.8%), with good geographic spread
across Asia and Europe.
Standard Chartered remains firmly 'open for business', and
this US dollar issue will further strengthen our ability to
support our existing customers and clients by deploying our
balance sheet strength. Unlike other banks which are
deleveraging, we are actively deploying our capital in
support of our customers.
The strong level of pricing and investor demand
demonstrates the ongoing ability of the bank to access
funding at good pricing amongst a diversified investor
base - we have successfully accessed the debt markets
in a variety of tenors and currencies - including USD,
Euros and Singapore dollars - over the last 12 months. This
issuance is a continuation of that trend.
Standard Chartered was not impacted by the recent Moody's
downgrade round among European banks or global investment
banking operations, and is the only international bank to
have been upgraded by all three major rating agencies since
the financial crisis.
The Group's balance sheet is in excellent shape, highly
liquid, predominantly funded by customer deposits and very
well capitalised. We have limited refinancing obligations
and have pre-funded 2012.
For further information, please contact:
Jon Tracey, Head of Media Relations
Tel: +44 (0)20 7885 7613
Notes 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 more than 90 per
cent of its 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 70 markets, the Group offers exciting
and challenging international career opportunities for
nearly 87,000 staff. It is committed to building a
sustainable business over the long term and is trusted
worldwide for 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'.