UOB, Soc Gen bonds capitalise on Singapore demand

United Overseas Bank and Societe Generale take advantage of Singapore's strong private banking bid to raise new capital at competitive levels.

Singapore’s debt capital markets have once again proved a fruitful source of capital funding for banks after local lender United Overseas Bank UOB and French bank Societe Generale executed successful deals on Wednesday. 

The City State’s army of private banking investors have long provided a strong underpinning for bank capital deals, which offer them the combined attraction of a decent yield and an investment grade rating.

UOB returned to its home market for Basel III funding for the first time since May 2014 with an S$750 million $547.2 million alternative Tier 1 transaction AT1 that replenishes an S$1 billion Basel II...

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