UOB deal exceeds expectations

Who says three''s a crowd? Not Singapore investors as they snap up UOB''s sub-debt bond, following similar deals from DBS and OCBC.

When United Overseas Bank UOB of Singapore first announced its intention to issue S$750 million $426.6 million of subordinated debt, observers were keen to see just how well the deal would be executed compared to similar sub-debt deals launched recently by rival banks OCBC and DBS.

It would be fair to say that UOB's deal, which will form part of the bank's $3.2 billion acquisition of Overseas Union Bank OUB, went better than UOB or its fellow...

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