UOB Prices EUR 1 Billion Dual Tranche Covered Bond
UOB has priced a EUR 1 billion dual tranche covered bond transaction. The first tranche consists of EUR 500 million in 2-year fixed-rate covered bonds.
Singapore – UOB has priced a EUR 1 billion dual tranche covered bond transaction. The bank issued EUR 500 million of 2-year fixed-rate covered bonds priced at EUR mid-swap (MS) plus 7 basis points.
The second tranche comprises EUR 500 million of 5-year fixed-rate covered bonds priced at EUR mid-swap (MS) plus 12 basis points. Both tranches saw significant demand from institutional investors across Asia and Europe.
UOB is a leading bank in Southeast Asia, offering a comprehensive range of financial services. The institution is increasingly focusing on providing sustainable finance solutions. Proceeds from this bond issuance will be used for general corporate purposes, including supporting sustainable finance initiatives.
The success of the covered bond issuance reflects investor confidence in UOB's creditworthiness and strategic direction. This funding exercise strengthens the bank's capital structure and supports its growth ambitions in the region.