UOB to issue $2.25b covered bonds

The bonds are part of the Global Covered Bond Programme.

The United Overseas Bank (UOB) announced its issuance of $2.25b (€1.5b) worth of covered bonds due for maturity on 17 March 2025.

The covered bonds will be issued as the eleventh series under the Global Covered Bond Programme, totalling $10.86b (US$8b).

UOB, together with BNP Paribas, HSBC Continental Europe, Société Générale, and UBS AG London Branch have been appointed as lead managers for the covered bonds. Landesbank Hessen-Thüringen Girozentrale has been appointed as co-manager for the covered bonds.

Applications can be made to the Singapore Exchange Securities Trading (SGX-ST) for the listing and quotation of the covered bonds. However, the SGX-ST does not guarantee the approval of the applications. The issue date of bonds will be on 17 March 2022.

€1 = SG$1.50
US$1 = SG$1.36