UOB bond

UOB scores ultra low coupon with Asia-driven $500 million bond

The Singaporean lender prints inside of rival bank DBS and achieves a record low coupon.
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Singapore's UOB tapped Asian demand for its bond offering
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<div style="text-align: left;"> Singapore's UOB tapped Asian demand for its bond offering </div>

United Overseas Bank UOB late last night priced a $500 million five-year bond, achieving the lowest coupon for an Asian financial institution outside Japan for a dollar bond of a similar maturity.

The initial guidance was in the area of 150bp and this was tightened to Treasuries plus 144bp to 146bp with the bonds pricing at the tight end at Treasuries plus 144bp. The coupon was fixed at 2.25% and the bonds reoffered at 99.868 to yield 2.278%. UOB, ANZ, Credit Suisse and Nomura were joint bookrunners.

UOB is the second Singapore lender to tap the dollar market recently, with rival lender DBS Bank printing...

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