Announcements

    Drinks

      StanChart in the market with AT1
      THURSDAY, 04/08/2022 - Scope Ratings UK Ltd
      Download PDF

      StanChart in the market with AT1

      Standard Chartered plc is out with initial price thoughts of 8.125% area for its planned US dollar AT1. Scope rates Standard Chartered on a subscription basis.

      To view Scope's subscription rating and rating report, or to register, please click here. The resetting 7% CET1 trigger AT1 has a five-year call (15 August 2027) and the first reset date falls on 15 February 2028, according to Bond Radar (www.bondradar.com). 

      Scope’s issuer rating on Standard Chartered is based on a consolidated view of the group and reflects a highly diversified business, with a commercial banking focus. Management is also pursuing growth in financial markets and wealth management activities and is increasingly focused on digitalisation.

      “There is an increasing management focus on facilitating sustainable finance and digital capabilities to support growth,” said Pauline Lambert, executive director in Scope’s financial institutions team. “However, the geographical breadth of operations as well as the focus on faster growing markets exposes the group to greater governance risks.”

      On 1 August, Barclays attracted solid demand for its USD 2bn AT1 in a rebounding market. The deal, which ended up well oversubscribed. has a seven-year call and priced with an 8% coupon, having started marketing at 8.5%. Scope also rates Barclays on a subscription basis. To view Scope’s subscription rating and rating report, or to register, please click here.

      Access all Scope rating & research reports on ScopeOne, Scope’s digital marketplace, which includes API solutions such as for Credit Sphere.

       

      Related news

      Show all
      French bank quarterly: net interest income and strong CIB performance support revenue momentum

      11/7/2025 Research

      French bank quarterly: net interest income and strong CIB ...

      Webinar: Mid-year European banking outlook

      10/7/2025 Research

      Webinar: Mid-year European banking outlook

      Scope affirms Danske Mortgage Bank PLCs Finnish mortgage covered bonds rating at AAA, Stable Outlook

      8/7/2025 Rating announcement

      Scope affirms Danske Mortgage Bank PLCs Finnish mortgage ...

      Scope has completed a monitoring review for Landwirtschaftliche Rentenbank

      7/7/2025 Monitoring note

      Scope has completed a monitoring review for ...

      Scope affirms Intesa’s A issuer rating with Stable Outlook

      7/7/2025 Rating announcement

      Scope affirms Intesa’s A issuer rating with Stable Outlook

      Santander’s TSB acquisition strengthens UK focus, Sabadell re-focuses on domestic market

      7/7/2025 Research

      Santander’s TSB acquisition strengthens UK focus, Sabadell ...