OCBC Bank becomes first bank in Asia to complete transition from LIBOR to SONIA

OCBC Bank becomes first bank in Asia to complete transition from LIBOR to SONIA

The Edge Markets - World·2021-06-11 05:01

SINGAPORE (June 10): OCBC Bank has received the approval of bondholders to convert the interest rate benchmark for its £250 million (S$468.1 million) floating rate covered bonds from the GBP London Interbank Offered Rate (LIBOR) to Sterling Overnight Interest Rate Average (SONIA).

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