OCBC completes bank capital deal

An Eu400 million ($339 million) offering, representing the final tranche of a triple currency funding, was priced last night (Tuesday) by lead manager UBS Warburg at 20bp wider than the preceding dollar tranche on a like-for-like basis. The completion of the deal brings total proceeds up to the $2.14 billion mark and makes OCBC's upper tier 2 deal the largest bank capital transaction ever from non-Japan Asia.