UOB prices $860m unsecured notes due 2028

The issue date of the notes is on 8 August 2024.

United Overseas Bank Limited (UOB) Sydney Branch intends to price $860m (A$1b) rate senior unsecured notes due 2028, making it the largest conventional AUD single-tranche bond from a Singaporean issuer. 

The notes were priced at the Bank Bill Swap Rate (BBSW) plus 0.74% and will be issued under the $39.8b (US$30b) Global Medium Term Note (GMTN) Programme. 

Australia and New Zealand Banking Group Limited, Bank of China Limited, Singapore Branch, Commonwealth Bank of Australia, UBS AG, Australia Branch, United Overseas Bank Limited and Westpac Banking Corporation have been appointed as the joint lead managers and bookrunners for the Notes. 

This is the second time UOB is tapping the AUD market this year. 

In April, the bank issued $1.08b (A$1.25b) in dual-tranche three-year unsecured notes. 

"Our commitment to this market remains; to provide our investors liquidity across the tenor curve, and so it was pleasing to see the strong appetite for these four-year bonds despite the volatile market backdrop,” said Koh Chin Chin, head of Group Treasury, Research and Customer Advocacy of UOB.

($1.00 = A$1.16 = US$0.75)