OCBC prices $750M covered bond, among the largest Singapore debt deals
What's the deal? OCBCDealroom has a profile for this one. Try Dealroom →, a major Singapore bank, has priced $750 million of covered bonds carrying a 4.630% coupon and due 2029. The issue falls under its $10 billion Global Covered Bond Programme, with proceeds earmarked for general corporate purposes.
The details: The bonds are guaranteed by Red Sail Pte. Ltd.Dealroom has a profile for this one. Try Dealroom → and secured on a portfolio of assets. They are expected to carry top-tier ratings from MoodyDealroom has a profile for this one. Try Dealroom →'s and FitchDealroom has a profile for this one. Try Dealroom → and to list on the Singapore ExchangeDealroom has a profile for this one. Try Dealroom →.
Why it matters: Covered bonds are backed both by the issuer and a ring-fenced pool of collateral, making them among the safest bank funding instruments. The structure gives OCBC cheaper, high-grade access to international debt markets.
The context: Among post-IPO debt deals raised by Singapore issuers over the past 48 months, OCBC's $750 million sits in the 92nd percentile by size across 161 comparable rounds — a large deal by local standards.
The endgame: OCBC offers corporate banking, treasury services, and capital markets products across the region. It taps global platforms like the covered bond programme to fund general needs and support growth in key Asian markets.
The signal: The deal reinforces OCBC's reach into high-grade international funding and deepens its footprint in the covered bond market — a channel banks increasingly favour for stable, low-cost capital.
Read more: tipranks.com
Image credit: Visualvalhalla
