LONDON: Standard Chartered has launched a US$2bn Additional Tier 1 bond at 6.5%, coming at a tighter level than guidance announced earlier on Thursday.
Guidance on the inaugural deal, a perpetual non-call five-year note, was revised earlier to 6.75% area. The issuer began marketing the bond at a yield guidance in the high-6% area earlier today.
Demand for the bond was heard to be in excess of US$15bn.
Barclays and Standard Chartered are structuring advisers. They are also joint lead managers with Bank of America Merrill Lynch, Goldman Sachs, JP Morgan and UBS.
The deal is expected to price in today's US session.
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