11th Aug 2021 09:02
(Alliance News) - Standard Chartered PLC on Wednesday said it will issue USD1.50 billion in subordinated contingent convertible securities.
The London-based, but Asia-focused bank said it intends to issue the fixed-rate contingent convertible securities next Thursday.
The issue is designed to fund the buyback of USD1.25 million convertible bonds, out of a series of USD2.00 billion, announced by the company on Tuesday.
FTSE 100-listed Standard Chartered said it has applied for contingent convertible bonds to trade on the International Securities Market of the London Stock Exchange and Stock Exchange of Hong Kong.
Barclays Capital Inc, Goldman Sachs & Co, SG Americas Securities, Morgan Stanley & Co served as joint lead managers in the issue alongside Standard Chartered.
Shares in Standard Chartered were trading up 0.5% at 463.70 pence each in London on Wednesday morning.
By Scarlett Butler; [email protected]
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