UOB issues $1.284b notes due 2029 in global bond programme

The bonds are expected to mature in June 2029 and will be the 14th series under the global programme.

United Overseas Bank Limited (UOB) announced plans to issue $1.284b (GBP750m) floating rate covered bonds due June 2029, pursuant to its $19.b (US$15b) global covered bond programme.

The covered bonds will be issued as the 14th series under the global programme, UOB said in a statement.

The bonds are expected to mature on or nearest to 8 June 2029 and have an issue price of 100% of the bond’s amount, it added. The coupon of bonds will be composed of daily SONIA plus 0.52% per annum payable quarterly in arrear.

UOB, Bank of Montreal, London branch, and RBC Europe Limited have been appointed as joint lead managers of the bonds.

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