UOB US$600m notes 7.3 times subscribed

Singapore

UOB said on Thursday that its upcoming issue of US$600 million Basel III- compliant Tier 2 subordinated notes was about 7.3 times subscribed.

The notes, which pay a coupon rate of 2.88 per cent, attracted an order book of US$4.4 billion, the bank said.

The notes, to be issued under UOB's S$15 billion euro medium-term note programme, are expected to be rated 'A2' by Moody's Investors Service a…