UOB replenishes capital with Basel III bond

Singapore's third largest bank brings its second debt deal in as many weeks with a new lower tier-2 transaction that replaces legacy capital maturing in April.

UOB completed its second international bond offering in as many weeks on Wednesday with a new $500 million lower tier-2 LT2 deal that replaces legacy capital maturing next month. 

Singapore's third largest bank by assets has had an active start to the year after completing a debut 500 million covered bond last week, the City State's first euro-denominated deal of the year. 

The new A2A rated, Reg S transaction also represents Singapore's first dollar-denominated deal of the year and received a relatively warm reception from investors, with the order book building from $750 million within a few hours to a peak...

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