April 12 (Bloomberg) -- Oversea-Chinese Banking Corp. raised about 300 million ringgit ($97.7 million) selling five credit-linked notes to individual investors in Malaysia since November, according to an e-mailed statement.
The Singapore-based lender said in an April 9 statement it would sell its sixth credit-linked note in the currency next month, after becoming the first bank in the Southeast Asian nation to sell the securities to individuals last year.
The five-year notes will be linked to the credit of Australia & New Zealand Banking Group Ltd., Standard Chartered Plc and Bank of China Ltd., OCBC said in the statement. The notes will pay interest of 4.5 percent to 5.5 percent a year, according to the statement.
Eleanor Danker, a Kuala Lumpur-based spokeswoman for OCBC, declined to immediately comment on the issuance when asked by e-mail how much the bank plans to raise via the sale.
Credit-linked notes are debt securities issued and underwritten by banks linked to the bonds or credit-default swaps of a separate entity. The investors are exposed to losses if either the bank that sold the note or the entity that the note is tied to defaults.
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