UOB prices debut tier 1 bond offering.

Trio take Singapore''s second largest bank to overseas investors with a perpetual non-call 10 deal.

Singapore United Overseas Bank UOB priced its first tier 1 one deal on December 7, raising $500 million from a perpetual non-call 10 deal led by Credit Suisse First Boston, Deutsche Bank and JPMorgan.

Pricing came at par on a coupon of 5.796%, equating to a spread of 131bp over Treasuries or 74.5bp over mid-swaps. If the bank chooses not to call the bond, the coupon steps up an additional 100bp to its initial mid-swaps...

To continue reading, please login or register for free

Click for more on: uob | prices | debut | tier | bond | offering

Print Edition

FinanceAsia Print Edition