UOB makes strong return to GBP covered bond market with GBP750m 3-year issuance
UNITED OVRSEAS BK S/ADR (UOVEY)
NASDAQ:AMEX Investor Relations:
uobgroup.com/investor/index.html
Company Research
Source: PR Newswire
SINGAPORE, Sept. 6, 2024 /PRNewswire/ -- UOB has priced GBP750 million in three-year covered bond due 2027. The covered bond was priced on Thursday (5 Sep) at the Sterling Overnight Index Average (SONIA) Rate plus 53 basis points. This is the largest orderbook for UOB in GBP covered bonds.UOB is the first non-UK bank to access the GBP covered bond market post summer, to take advantage of the strong demand for front-end covered bonds. The three-year covered bond appealed to investors in the current macro environment and saw robust investor demand from real money fund managers, insurance and bank treasuries.Ms Koh Chin Chin, Head of Group Treasury, Research and Customer Advocacy, UOB, said, "We were glad to be back to engage the covered bond market, and heartened to see the continued strong reception towards UOB credit and the Singapore Covered Bond by global investors."Salient points about this offeringStrong outcome with a rare GBP covered bond, allowing the Bank to tighten pricing an
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