Establishment of US$5 billion global covered bond programme by Standard Chartered Bank (Singapore) Limited unconditionally and irrevocably guaranteed as to payments of interest and principal by Banzu Covered Bonds Pte. Ltd.
Allen & Gledhill advised Standard Chartered Bank (Singapore) Limited (“SCBSL”) on the establishment of its US$5 billion global covered bond programme (“Programme”), unconditionally and irrevocably guaranteed as to payments of interest and principal by Banzu Covered Bonds Pte. Ltd. (“Banzu”).
The programme was solely arranged by SCBSL.
A separate team from Allen & Gledhill advised Banzu, who was appointed covered bond guarantor.
This is the second Singapore covered bond programme by a domestic systemically important bank (D-SIB) that is a Singapore subsidiary of a foreign bank group.
Advising SCBSL were Allen & Gledhill Partners Magdalene Leong, Andrew Chan, Jo Tay, Hoo Sheau Farn, Francis Mok, Alexander Yap, and Sunit Chhabra.
Advising Banzu was Allen & Gledhill Partner Glenn David Foo.
