UOB nets tight $600m tier two bond

By Alice Huang
09 Sep 2020

Singapore’s United Overseas Bank has bagged the lowest yield globally for a Basel-III compliant tier two dollar bond, breaking the record set by its peer Oversea-Chinese Banking Corp just last week.

UOB’s Tuesday trade was its fourth tier two dollar deal. Its last tier two transaction was a 10 year non-call five bond sold in April 2019. But its outing this week was significant for a key reason: pricing.

Its Singaporean peer OCBC had raised $1bn from tier two ...

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