Establishment of S$2 billion Euro medium term note programme and issue of S$500 million subordinated notes by Great Eastern Holdings Limited and The Great Eastern Life Assurance Company Limited
Allen & Gledhill advised Great Eastern Holdings Limited (“GEH”) and The Great Eastern Life Assurance Company Limited (“GEL”) on the establishment of its S$2 billion Euro medium term note securities programme (“Programme”) and the issue of S$500 million 3.928% subordinated notes due 2039 first callable in 2034 under the Programme.
Under the Programme, GEH and GEL may issue perpetual capital securities that constitute Additional Tier 1 capital securities or subordinated notes that constitute Tier 2 capital, in each case, pursuant to the requirements of the Monetary Authority of Singapore.
Advising GEH and GEL were Allen & Gledhill Partners Margaret Chin, Glenn David Foo, Sunit Chhabra, and Catherine Neo.
