FINANCIAL SERVICES | Staff Reporter, Singapore

UOB to issue covered bonds worth $797.6m

The expected issue date is on 16 January 2018.

UOB intends to issue $797.6m (€500m) 0.500% covered bonds due 2025, as part of its US$8b covered bond programme.

According to an announcement, the covered bonds will be guaranteed as to payments of interest and principal by Glacier Eighty Pte. Ltd. (CBG). The guarantee is secured by a portfolio of loans purchased by CBG from the UOB and other assets of the CBG.

UOB assigned a coupon of 0.500% per annum payable annually in arrear.

UOB expects the bonds' issue date to be on 16 January 2018 and the maturity date on 16 January 2025.

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