The debt offering was oversubscribed by some 3.39 times by a diverse group of investors including fund managers and insurance companies.
UOB’s Malaysian subsidiary, UOB Malaysia, has established its inaugural Islamic debt programme. The programme will allow up to RM5 billion ($1.42 billion) to be raised in Malaysia under the Shariah principle of Wakalah Bi Al-Istithmar.
The bank has also successfully priced its debut Islamic debt, which is a RM500 million Basel III-compliant Tier 2 subordinated Islamic medium term note or Tier 2 Sukuk Wakalah. The note, which received an AA1 rating by RAM Rating Services, is due in February 2034 and callable in February 2029.
