Taking advantage of a rebound in market conditions, United Overseas Bank (UOB) successfully priced a S$850 million ($638.37 million) perpetual non-call five-year additional Tier 1 (PerpNC5 AT1) bond on January 12, 2023. The deal set a benchmark for the months ahead, marking the first significant Singapore dollar bond issuance of the year and a return by Singaporean banks to the domestic capital market after a quiet five-month period.
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