By Joanne Chiu

Standard Chartered Plc. (2888.HK) plans to issue US$2 billion worth of fixed rate resetting perpetual subordinated contingent convertible securities in a bid to strengthen its capital base.

The emerging-market-focused lender said after trading hours Friday that the proposed convertible securities carry an initial fixed interest rate of 7.5% annually.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

August 14, 2016 20:55 ET (00:55 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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