UOB has announced its intent to issue US$2.1 billion ($2.85 billion) worth of notes to be drawn down under the US$30 billion global medium term note programme.
All the notes are denominated in US dollars.
Of the notes, US$750 million ($1.02 billion) are senior notes due 2025 with a coupon of 3.059% per annum (p.a.). The notes will mature on April 7, 2025 and are expected to be rated Aa1 by Moody’s and AA- from S&P Global Ratings and Fitch Ratings.
The amount also comprises US$350 million worth of senior floating rate notes due 2025 and US$1 billion subordinated notes due 2032 with a coupon of 3.863% p.a.
The senior floating rate notes will mature on April 7, 2025, while the subordinated notes will mature on Oct 7, 2032. The senior floating rate notes are expected to be rated Aa1 by Moody’s and AA- from S&P Global Ratings and Fitch Ratings.
The subordinated notes are expected to be rated A2 by Moody’s, BBB+ by S&P Global Ratings and A by Fitch Ratings.
See also: New Key Summary 123
Shares in UOB closed at $31.96 on April 1.
