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The latest announcement is out from OCBC ( (SG:O39) ).
OCBC has priced a EUR 500 million issuance of fixed-rate covered bonds due 2029 under its US$10 billion Global Covered Bond Programme, with proceeds earmarked for general corporate purposes. The bonds will carry a coupon of 2.989 per cent per annum and are expected to receive top-tier credit ratings of Aaa from Moody’s and AAA from Fitch, reinforcing OCBC’s access to high-quality funding.
The covered bonds will be guaranteed as to interest and principal by Red Sail Pte. Ltd., secured by a portfolio of assets acquired from OCBC, and are expected to be issued on 18 May 2026. OCBC, alongside several international banks, acted as joint lead managers on the deal, and the bonds are slated for listing on the Singapore Exchange on 19 May 2026, further deepening OCBC’s presence in the European covered bond market and diversifying its funding base.
The most recent analyst rating on (SG:O39) stock is a Buy with a S$22.00 price target. To see the full list of analyst forecasts on OCBC stock, see the SG:O39 Stock Forecast page.
More about OCBC
Oversea-Chinese Banking Corporation Limited (OCBC) is a Singapore-incorporated banking group that provides a broad range of financial services, including corporate and consumer banking, treasury, and investment-related products. The bank raises funding in international capital markets and focuses on strengthening its balance sheet through diversified wholesale funding instruments such as covered bonds.
Average Trading Volume: 6,662,899
Technical Sentiment Signal: Buy
Current Market Cap: S$98.51B
For a thorough assessment of O39 stock, go to TipRanks’ Stock Analysis page.