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Wednesday, July 31, 2013

DBS, OCBC, UOB Bank, Hyflux Preference Shares & Genting Perp Bond



DBS Bk 4.7% NCPS 100


DBS Bank 4.7% Non-Cumulative, Non-Convertible, Non-Voting Preference Shares
ListedSGX
Shares Issued8,000,000
Issue PriceS$100 per share
Issue Date/Listing Date22 November 2010
Liquidation PreferenceS$100 per share
MaturityPerpetual
Dividend4.70% of Liquidation Preference p.a.
Payment DatesSemi-annual: 22 May and 22 November
Credit RatingBBB+ by S&P, A3 by Moody's, A by Fitch
RedemptionThe preference shares may be redeemed, at the option of DBS Bank, on or after 22 November 2020 at an amount equal to the Liquidation Preference.

The preference shares may also be redeemed, at the option of DBS Bank, in the circumstances of a “Tax Event” or “Special Event”. 

Please refer to the attachment for more information.
OCBC Bk 4.2% NCPS 

OCBC Class G 4.2% Non-Convertible Non-Cumulative Preference Shares
Level (currency)Shares issuedIssue dateListing date (SGX)Liquidation preference
Tier 1 (SGD)245,830,884*14 July 200321 July 2003S$1.00
Tier 1 (SGD)150,000,000**S$1.00276 August 20037 August 2003S$1.00
MaturityDividendPayment datesCredit ratings
Perpetual4.2% p.a. (net)20 June & 20 DecemberMoody's
A3 (hyb)
Fitch
A
S&P
BBB+
Redemption
OCBC Bank may, at its option, redeem in whole, but not in part, the preference shares on:

1. 14 January 2009
2. 14 July 2013
3. On each dividend date after 14 July 2013
* Issued to OCBC stockholders who opted to receive these preference shares in lieu of a special cash dividend
** Issued by way of private placement

OCC 3.93% NCPS 10 

OCC 3.93% non-convertible non-cumulative guaranteed preference shares
Level (currency)Number of shares issuedIssue dateListing date (SGX)Liquidation preference
Tier 1 (SGD)4,000,0002 February 20053 February 2005S$100
DividendPayment Dates
Before 20 March 2015: 3.93% p.a.
Thereafter: 3-Month Singapore swap offer rate plus 1.85%
On / Before 20 March 2015: 20 March & 20 September
Thereafter: 20 March , 20 June, 20 September & 20 December
IssuerGuarantorMaturityCredit Ratings
OCBC Capital Corporation#OCBC BankPerpetualMoody's
A3 (hyb)
Fitch
A
S&P
BBB+
Redemption
OCBC Bank may, at its option, redeem in whole, but not in part, the Preference Shares on:

1. 20 March 2015
2. On each dividend date after 20 March 2015
# Wholly-owned subsidiary of OCBC Bank

OCC 5.1% NCPS 10 

OCC 5.1% Non-Convertible Non-Cumulative Guaranteed Preference Shares
Level (currency)Number of shares issuedIssue dateListing date (SGX)Liquidation preference
Tier 1 (SGD)15,000,00027 August 200828 August 2008S$100
DividendPayment dates
Before 20 September 2018: 5.1% a year
Thereafter: 3-month Singapore swap offer rate plus 2.5%
On / before 20 September 2018: 20 March & 20 September
Thereafter: 20 March , 20 June, 20 September & 20 December
IssuerGuarantorMaturityCredit ratings
OCBC Capital Corporation (2008)#OCBC BankPerpetualMoody's
A3 (hyb)
Fitch
A
S&P
BBB+
Redemption
OCBC Bank may, at its option, redeem in whole, but not in part, the preference shares on:

1. 20 September 2018
2. On each dividend date after 20 September 2018
# Wholly-owned subsidiary of OCBC Bank

UOB 5.05% NCPS 100

Corporate Action

DIVIDEND
Ex.Date: 03 Sep 2013
150313 - 150913 5.05% ONE-TIER TAX

ENTITL.
Ex.Date: 03 Sep 2013
REDEMPTION 100%

The non-cumulative non-convertible preference shares were issued by the Bank on 15 September 2008. The shares are perpetual securities with no fixed maturity. They may be redeemed at the option of the Bank, in whole but not in part, for cash on any of the following dates: 15 September 2013, 15 September 2018 and thereafter, on each dividend payment date, or in the event of certain changes in the tax laws of Singapore or on the occurrence of certain events, subject to the approval of the Monetary Authority of Singapore. Dividend is payable semi-annually on 15 March and 15 September of each year at a fixed annual rate of 5.05% of the liquidation preference, subject to declaration by the Board of Directors.




Hyflux 6% CPS 10 
Any expression of trading idea found on this website is for sharing only and does not constitute an invitation to trade or investment advice. Please read disclaimer page here.
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