Societe Generale offers Tier 2 Dim Sum bonds

26 May, 2015

SINGAPORE: French bank Societe Generale is returning to the Dim Sum market to sell a 10-year non-call five Tier 2 bonds, indicated to yield in the 5.3% area.

Societe Generale and Standard Chartered are global co-ordinators, while Bank of China, China Construction Bank, Agricultural Bank of China International and ICBC Europe are joint bookrunners.

The Basel III-compliant bonds, expected to price today, will be listed on the Euronext Paris exchange.

In March, SocGen issued a Rmb1bn (US$160m) Formosa bond at a yield of 4.03%. Last week, it hired ANZ and CBA as joint lead managers for an Australian dollar-denominated 12-year non-call seven Tier 2 EMTN offering.

Copyright Reuters, 2015

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