The Sydney branch of United Overseas Bank Limited (UOB) says that it intends to issue A$500 million ($489.4 million) floating rate notes due October 2023.
The notes will be issued under the US$15 billion ($20.29 billion) Global Medium Term Note Programme (the GMTN Programme).
The notes, which are A$-denominated, will carry a coupon of a three-month bank bill swap reference rate and 0.46% per annum payable quarterly in arrear.
The notes are expected to be rated AA- by Standard & Poor’s.
The notes, which will mature three years from the date of issue (on Oct 16), will not be listed.
National Australia Bank Limited and Standard Chartered Bank are the joint lead managers for the notes.
See also: New Key Summary 123
Shares in UOB closed 8 cents lower or 0.4% down, at $19.45 on Oct 9.
