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UOB prices 850 million euro bonds due 2030 at 2.718%

UOB prices 850 million euro bonds due 2030 at 2.718%

By Swedan Margen

Fashion

UOB said on Tuesday (Nov 25) that it has priced 850 million euros (S$1.3 billion) in fixed-rate covered bonds due 2030.

The covered bonds will bear interest at 2.718 per cent per annum, payable annually in arrear.

The bonds, which are part of the lender’s US$15 billion global covered bond programme, are expected to be rated “Aaa” by Moody’s Investors Services and “AAA” by Standard & Poor’s Rating Services.

Payments of interest and principal will be guaranteed by Glacier Eighty, secured by a portfolio of loans purchased by the company from the bank and other assets of the company.

The bonds are expected to be listed on the Singapore Exchange on Dec 1.

UOB, BNP Paribas, HSBC, Landesbank Hessen-Thuringen Girozentrale and Societe Generale have been appointed as the joint lead managers for this issue.

SEE ALSO

UOB's demand follows other demands for millions of dollars from landlords over mm2 Asia's failed Cathay Cineplexes chain.

Shares of UOB rose 0.1 per cent to close S$0.04 higher at S$33.89 on Monday.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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UOB prices 850 million euro bonds due 2030 at 2.718% | Grazia British