• UOB to Sell US$797.6 Million Covered Bonds Issue

    UOB plans to sell US$797.6 million covered bonds due 2025, as part of its global covered bonds programme worth US$8 billion.

    BankBazaar Singapore – January 10, 2018

    Singapore: United Overseas Bank (UOB) is ready to launch the next tranche of its US$8 billion covered bonds programme. The bank said it will issue US$797.6 million (equivalent to EUR500 million) covered bonds due to mature in 2025.

    According to a media report, the 0.500% covered bonds are expected to be issued on 16 January 2018 and will mature on 16 January 2025. It added that Glacier Eighty Pte. Ltd. will be guaranteeing the payment of interest and principal. The bonds are expected to get a rating of AAA from both Moody’s Investors Service and Standard & Poor’s Rating Services.

    The report pointed that UBS, Deutsche Bank, HSBC, Norddeutsche Landesbank, and UOB will be managing the covered bond issue.

    In 2015, UOB launched its US$8 billion global covered bond programme, with the purpose of strengthening its funding base. In February 2017, UOB launched Asia’s first ever dual currency covered bonds sale. The issue comprised US$500 million 2.125% bonds and EUR500 million 0.125% bonds.

    Covered bonds are an investment vehicle. UOB also has several other investment options in Singapore, such as fixed deposits, unit trusts, structured deposits and treasury bonds.

    Fixed Deposits from Top Banks
    Foreign Currency Fixed Deposits from Top Banks
    Currency Specific Fixed Deposit
    US Dollar Foreign Currency Fixed Deposit by Bank
    Australian Dollar Foreign Currency Fixed Deposit by Bank
    GBP Foreign Currency Fixed Deposit by Bank
    NZD Foreign Currency Fixed Deposit by Bank
    Euro Foreign Currency Fixed Deposit by Bank
    Canadian Dollar Foreign Currency Fixed Deposit by Bank
    Fixed Deposit Promotion by Banks
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.