UOB joins tap bandwagon, raises $250m

13 Mar 2012

Singapore’s United Overseas Bank (UOB) became the latest Asian issuer to tap its outstanding bonds last week, when it raised $250m from an increase of its five year bonds.

Australia and New Zealand Bank, Credit Suisse, Deutsche Bank, Nomura and United Overseas Bank priced the deal on Friday at 136bp over Treasuries, in line with price guidance — and 8bp inside where the original $500m 2.25% issue priced on February 29.

UOB is the latest issuer to tap ...

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