Repeat investors help UOB close rapid bank capital deal

UOB sold a rare bank capital deal this week, raising S$1bn ($792.3m) from a bond that will help it pay back an outstanding issue that will start to lose its regulatory capital value this year. The rarity of the deal — and the commitment of some repeat investors — helped the bank refinance at a much cheaper level than it would have paid in the dollar market, according to bankers.