UOB prices more than US$2B of notes

UOB logoPhoto by Leslie Shaffer

UOB has priced more than US$2 billion of notes, across three tenors, according to a filing to SGX Friday.

BNP Paribas, Credit Suisse (Singapore), HSBC’s Singapore branch and UOB were appointed as joint lead managers for the notes, the filing said. 

US$1B notes due 2032

The Singapore bank priced US$1 billion fixed-rate subordinated notes due 2032 at 3.863 percent, the filing said. The first call date of the notes is 7 October 2027, with a maturity date of 7 October 2032, the filing said. 

The notes are expected to be rated A2 by Moody’s Investors Service, BBB-plus by S&P Global Ratings, and A by Fitch Ratings, the bank said. 

The notes are series 059 under the bank’s US$30 billion global medium term note program, UOB said. 

The 059 notes are intended to qualify as tier 2 regulatory capital, UOB said.

US$750M notes due 2025

In addition, UOB priced US$750 million U.S. dollar fixed-rate senior notes due 2025 at 3.059 percent, with the notes considered series 057 under the issuance program, the filing said. 

The notes are expected to be rated Aa1 by Moody’s and AA-minus by S&P and Fitch, the filing said.

US$350M notes due 2025

UOB also priced US$350 million senior floating rate notes due 2025, with a coupon of a compounded index SOFR plus 0.70 percent per annum, the filing said. 

The notes are series 058 under the issuance program, the filing said.

The notes are expected to be rated Aa1 by Moody’s and AA-minus by S&P and Fitch, the filing said.

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