UOB to issue A$100 million of floating-rate senior unsecured notes
Westpac Banking has been appointed the sole lead manager and bookrunner for the notes
UOB ’S Sydney branch will issue A$100 million (S$88.8 million) worth of floating-rate senior unsecured notes, the bank said in a regulatory filing on Thursday (Oct 3).
The coupon rate is the Australian benchmark three-month Bank Bill Swap rate plus 0.59 per cent per annum payable quarterly in arrear, and the notes will mature on Oct 27, 2025.
The notes, expected to be rated Aa1 or AA- by major ratings agencies, are to be consolidated and form a single series with the A$750 million floating-rate senior unsecured notes issued on Oct 27, 2020 and due 2025.
Westpac Banking has been appointed the sole lead manager and bookrunner for the notes, which will be issued under the US$30 billion global medium-term note programme.
UOB shares closed 0.6 per cent or S$0.20 lower at S$31.71 on Thursday, before the announcement.
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