Stocks to watch: UOB, Singtel, UMS Integration, Koh Brothers Eco Engineering
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[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Aug 19):
UOB : The bank on Wednesday said that it has priced £1 billion (US$1.4 billion) floating rate covered bonds due February 2030. The bonds are expected to be issued on Aug 25 and will bear interest at the compounded daily Sterling Overnight Index Average rate, plus 0.49 per cent per annum payable quarterly in arrear. They are issued as the 17th series under UOB’s US$15 billion global covered bond programme. Shares of UOB closed 0.6 per cent or S$0.25 lower at S$40.88 on Tuesday.
Singtel : S&P Global Ratings on Wednesday upgraded Singtel to “A+/A-1” from “A/A-1”, citing the telco’s improved balance sheet and robust financial flexibility driven by its aggressive asset recycling programme. The credit ratings agency also raised its issue rating on the company’s senior unsecured notes to “A+” from “A”, and on its guaranteed subordinated perpetual securities to “BBB+” from “BBB”. Shares of Singtel fell 0.5 per cent or S$0.02 to S$4.44 on Tuesday.
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