UOB uses senior, tier two combo for sustainability bond debut

By Morgan Davis
08 Apr 2021

Singapore’s United Overseas Bank sold its debut sustainability bond on Wednesday, raising $1.5bn and notching a number of other firsts with its deal. Morgan Davis reports.

UOB’s sustainability transaction was split between a $750m five year senior bond and a $750m 10.5 year non-call 5.5 tier two subordinated note.

The deal was the first on a few fronts. It was the first dual tranche senior and tier two sustainability bond from a financial borrower globally, ...

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