UOB prices $400m perpetual capital securities

It will be issued under a $41.5b (US$30b) global medium term note programme.

UOB has priced a perpetual capital securitiesat $400m, which will bear a fixed distribution rate of 4.25% per annum.

These will be issued under the $41.5b (US$30b) global medium-term note programme.

It is subject to a reset on 4 October 2027 to a rate equal to the then-prevailing five-year Singapore Overnight Rate Average Overnight Indexed Swap plus the initial spread of 1.47%.

UOB has also been appointed as the sole global coordinator and bookrunner for the perpetual capital securities.

The perpetual capital securities are also intended to be under “additional tier 1 regulatory capital of the company,” UOB noted.

“The perpetual capital securities may be written down permanently (in whole or in part) and any accrued and unpaid distribution may be cancelled in respect of each Perpetual Capital Security by the Company upon the occurrence of a Loss Absorption Event,” UOB also said.

The perpetual capital securities are projected to be issued on 4 July 2022.

Follow the link for more news on

UOB

perpetual securities

Also Read

How Singaporeans stretch travel budgets without compromising on experience

EnterpriseSG and Afreximbank boost financing for firms expanding to Africa

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

SBR 5 Lorem Ipsum News 2 [8 May]

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

2 days ago

SBR 4 Lorem Ipsum [8 May Top Stories]

2 days ago

Vibrant Group wins suit against Blackgold Australia

The group shall be paid damages and fees by Blackgold Australia’s ex-CEO and ex-chairman.

Lorem Ipsum text in year 2025

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old.

Agribusiness