OCBC Bank has priced its A$350 million (S$404 million), three-year senior floating rate notes under its US$10 billion global medium term note programme.

The notes will be issued by OCBC Bank, through its Sydney Branch, and are expected to be repo eligible by the Reserve Bank of Australia.

They will bear interest at the three-month bank bill swap reference rate plus 0.68 per cent per annum, payable quarterly in arrear.

The notes are expected to be rated Aa1 by Moody's Investors Service, AA- by Standard & Poor's Ratings Services and AA- by Fitch Ratings.

The net proceeds will be used for the general corporate purposes of OCBC Bank.