UOB to issue first Singapore covered bond in two years

Singapore fotolia
By Bill Thornhill
23 Nov 2020

United Overseas Bank has mandated leads for the first euro covered bond benchmark from a Singapore lender since September 2018. The deal takes advantage of the Monetary Authority of Singapore’s (MAS) recent decision to increase covered bond issuance capacity.

HSBC, Société Générale, UBS Investment Bank and UOB as joint book runners and NordLB as a co-manager for the euro benchmark deal rated Aaa/AAA/— which will have an intermediate maturity and will be launched in the near future.

The transaction follows a long hiatus, with the last ...

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