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Standard Chartered launches US$2bn AT1 bond at 7.5%

Reuters - UK Focus

By John Balassi

NEW YORK, Aug 11 (IFR) - Standard Chartered (HKSE: 2888.HK - news) has launched a US$2bn Additional Tier 1 bond at 7.5%, one of the banks managing the sale told IFR on Thursday.

StanChart (HKSE: 2888-OL.HK - news) started marketing the deal during business hours in Asia, where it benefits from strong name recognition, and revised guidance to 7.625% area from 8% area.

The bond is expected to price later on Thursday.

Standard Chartered, Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs (NYSE: GS-PB - news) , Societe Generale (Swiss: 519928.SW - news) and UBS (LSE: 0QNR.L - news) are joint lead managers. (Reporting by John Balassi; Writing by Natalie Harrison; Editing by Marc Carnegie)