Investors were largely institutional and Australian. Official institutions, fund managers, and insurers accounted for more the 70% of investors, with more than 87% of the issue sold into Australia.
SINGAPORE (July 18): United Overseas Bank has announced the issuance of A$500 million of three-year senior unsecured floating rate notes (FRN), priced at the Australian 3-month Bank Bill Swap Reference Rate + 0.53% per annum payable quarterly in arrears.
According to lead manager HSBC, demand was strong, with an orderbook of A$780 million that allowed the issuer to upsize the issuance from A$300 million to A$500 million.
