UOB braves volatility with S$500m Tier 1 perp

Southeast Asia’s third-largest lender prices its second Singapore dollar Basel III Tier 1 perpetual this year as investors look for quality papers amid increased market uncertainty.
UOB, Southeast Asia's third-largest lender, has an existing Basel III Tier 1 perp.
UOB, Southeast Asia's third-largest lender, has an existing Basel III Tier 1 perp.

United Overseas Bank (UOB) defied market conditions on Monday to raise a S$500 million ($400 million) Basel III Tier 1 perpetual (perp) with a callable option in the sixth year, pricing on the tighter end of its final price guidance.

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