OCBC prices £1 billion floating rate covered bonds due 2029
Businesstimes News·- OCBC has priced £1 billion in floating rate covered bonds due 2029, bearing interest at the compounded daily Sonia rate plus 0.48 per cent per annum. - The net proceeds from the issuance, expected on Aug 26, will be used for general corporate purposes with a listing on the Singapore Exchange on Aug 27. - The bonds are expected to receive an Aaa rating from Moody’s Investors Services and an AAA rating from Fitch Ratings.U.K. Lenders Under Fire Over Lack Of Banking For Crypto Firms
Baystreet·- A U.K. parliamentary group criticized major British commercial banks for failing to provide banking services and financing to cryptocurrency firms. - Major lenders including Barclays, Lloyds, and Standard Chartered received a letter demanding explanations for their restrictions on crypto-related businesses. - The British government and industry representatives warn that limited banking access creates barriers hindering the growth and investment of the domestic crypto sector.