By Cady Vishniac
Detroit, Nov. 24 – United Overseas Bank Ltd. issued €1 billion of 0.01% covered bonds due Dec. 1, 2027 (Aaa/AAA) guaranteed by Glacier Eighty Pte. Ltd. on Tuesday, according to a notice.
The bonds, part of UOB’s $8 billion global covered bond program, priced at 101.553.
United Overseas Bank Ltd., HSBC France, Societe Generale and UBS AG London Branch acted as lead managers for the Regulation S bonds.
Norddeutsche Landesbank – Girozentrale acted as co-manager.
Application has been made to the Singapore Exchange for a listing.
The retail bank is based in Singapore.
| Issuer: | United Overseas Bank Ltd.
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| Issue: | Covered bonds
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| Amount: | €1 billion
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| Maturity: | Dec. 1, 2027
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| Bookrunners: | United Overseas Bank Ltd., HSBC France, Societe Generale, UBS AG London Branch
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| Co-manager: | Norddeutsche Landesbank – Girozentrale
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| Coupon: | 0.01%
|
| Price: | 101.553
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| Pricing date: | Nov. 24
|
| Issue date: | Dec. 1
|
| Rating: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | Regulation S
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