Standard Chartered PLC’s US$1 Billion Notes Offering

Slaughter and May advised Standard Chartered PLC on its issuance of U.S.$1,000,000,000 3.516 per cent. Fixed Rate Reset Dated Subordinated Notes due 2030.

The Notes were issued under the U.S.$77,500,000,000 Debt Issuance Programme established by Standard Chartered PLC and Standard Chartered Bank.

The Notes, which were issued on 8 November 2019, are intended to qualify as tier two capital for regulatory capital purposes and have been assigned a rating of Baa2 by Moody’s, BBB- by S&P, and A- by Fitch. The Notes have been admitted to the Official List of the FCA and to trading on the regulated market of the London Stock Exchange.

Credit Suisse Securities (Europe) Limited, Société Générale, Standard Chartered Bank and UBS AG London Branch acted as joint lead managers in connection with the issuance.

Standard Chartered PLC is a British multinational banking and financial services company headquartered in London, England.

The Slaughter and May team included Harry Bacon (Picture), Kevin Howes (associate), Zahra Haji (associate).

Involved fees earner: Harry Bacon – Slaughter and May; Zahra Haji – Slaughter and May; Kevin Howes – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Standard Chartered;