UOB to issue $2.68 billion in US dollar-denominated bonds
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The US dollar-denominated multi-tranche bonds are due in 2028 and 2030.
ST PHOTO: MARK CHEONG
SINGAPORE - UOB said on March 27 that it intends to issue US$2 billion (S$2.68 billion) in US dollar-denominated multi-tranche bonds due in 2028 and 2030.
The issue comprises US$800 million senior notes due in 2028 priced at 4.401 per cent, US$900 million senior floating rate notes due in 2028, and US$300 million senior floating rate notes due in 2030.
The bank said in a statement that it had taken advantage of recent constructive markets and a stable window, ahead of US President Donald Trump’s proposed tariffs on April 2.
“The USD market continues to be one of our deepest liquidity sources,” said Ms Koh Chin Chin, UOB’s head of group treasury, research and customer advocacy, adding that solid reception from real-money investors allowed it to surpass its size expectations at very competitive funding levels.
The Singapore lender did not reveal how it intends to utilise the proceeds. REUTERS
