Standard Chartered PLC today launched the first issuance of an offshore Renminbi (CNY) denominated Senior Unsecured Notes to be listed on and cleared via the Singapore Exchange Ltd (SGX). Standard Chartered Bank is the sole lead manager and book runner for this deal.

Standard Chartered PLC also announced that it had raised CNY 1 billion through a Singapore-listed offshore Renminbi bond. The three-year senior unsecured issuance priced with a coupon of 2.625% after generating over CNY 3 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 order book was three times subscribed with significant demand from some of the largest institutional investors in the region."