Linklaters and Allen & Gledhill have advised the Singapore-based Oversea-Chinese Banking Corp. Ltd. on a $1 billion note issue.

The bank sold the 10-year bonds in order to raise money for general corporate purposes. The notes also serve as reserve capital under new Basel III–compliant rules set by the Monetary Authority of Singapore.

Linklaters Singapore partners Kevin Wong and David Ludwick acted for OCBC, with Allen & Gledhill partners Glenn Foo and Sunit Chhabra serving as local counsel.

Sidley Austin Singapore partner Prabhat Mehta represented underwriters Hongkong and Shanghai Banking Corp. Ltd., J.P. Morgan (S.E.A.) Ltd., Merrill Lynch (Singapore) Pte. Ltd. and OCBC Bank.