UOB Sydney issues record A$2bn bond for a Singapore issuer

UOB Sydney Branch has priced a A$2 billion ($1.28 billion) three-year senior floating-rate bond on February 21  – the largest-ever Australian dollar issuance from a Singapore issuer.

The pricing of the floating rate instrument, at 0.65% above the three-month Bank Bill Swap Rate (BBSW), also represents the tightest spread achieved by any Asian bank for an issuance above A$1 billion, according to a ANZ media release.