UOB blazing a trail in euro covered bonds
Hong Kong
UNITED Overseas Bank is following peer DBS into the covered bond market and, in the process, is about to become the first lender in Asia ex-Australasia to issue the instrument in euros.
The notes, which are expected to price after investor meetings wrap up in Europe on Friday, will establish a template for other Asian banks to print in euros amid growing interest to issue covered bonds in the region. UOB's debut offering is expected to be at a tenor of five years, which is typical for inaugural euro covered bonds, says one banker on the transaction, with modest size ambitions at a little higher than the minimum 500 million (S$776 million) benchmark.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
DBS customers unable to log into digibank, PayLah! on Thursday
US: Wall St opens higher after Fed leaves interest rates alone