UOB goes tight in Aussie dollars

Singapore adobe stock AS 230x150
By Frank Jackman
22 Oct 2020

United Overseas Bank achieved the tightest spread for a five year floating rate bank issue in Australian dollars in over 10 years this week, issuing A$750m ($532.0m) to prove that there is still demand at decade-low levels.

“It’s tough to pick up spread right now, particularly in high quality double A paper,” said a banker. “The deal proves that there is appetite at these spreads.”

On Tuesday, sole bookrunner ANZ circulated initial pricing thoughts of three month BBSW plus 64bp ahead of pricing for ...

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