Issued at 100% of the principal amount of the bonds, these will be guaranteed as to payments of interest and principal by Glacier Eighty. The guarantee is secured by a portfolio of loans bought by Glacier Eighty from UOB and other assets from the former.
United Overseas Bank (UOB) has priced EUR850 million ($1.28 billion) worth of fixed rate covered bonds. The bonds carry a coupon of 2.718% per annum and are payable annually in arrears.
The bonds will be issued as the 13th series under the bank’s US$15 billion ($19.58 billion) global covered bond programme and will mature on Dec 1, 2030.
