UOB sells US$1.5b in sustainability bonds in a Singapore first

UOB has priced a dual tranche of senior notes at 1.25 per cent and Tier 2 subordinated notes at 2 per cent per annum. The bank raised US$1.5 billion, with a final orderbook of US$2.75 billion.

The US dollar-denominated issuance is the first sustainability bond offering from Singapore and the first dual tranche senior and Tier 2 instrument in sustainability format globally from a bank issuer, UOB said in a press statement on Thursday.

Investors across the Asia-Pacific, Europe and the US participated in the oversubscribed issuance. Sustainability-focused investors contributed 60 per cent to the final orderbook.