UOL's wholly owned unit sets up S$1b medium-term note programme

UOL Group's wholly owned UOL Treasury Services (UTS) has established a S$1 billion multicurrency medium-term note programme.

The notes will be unconditionally and irrevocably guaranteed by UOL. United Overseas Bank is the programme's arranger and dealer.

UTS was incorporated as a private limited company in Singapore on Nov 24, 2011, and its principal activities include the provision of financial and treasury services to UOL and its subsidiaries.

Each series of notes may be issued in various amounts and tenures, and may bear fixed, floating or variable rates of interest. Hybrid notes or zero coupon notes may also be issued under the programme.