美通社

2024-09-06 12:02

UOB makes strong return to GBP covered bond market with GBP750m 3-year issuance

SINGAPORE, Sept. 6, 2024 /PRNewswire/ -- UOB has priced GBP750 million in three-year covered bond due 2027. The covered bond was priced on Thursday (5 Sep) at the Sterling Overnight Index Average (SONIA) Rate plus 53 basis points. This is the largest orderbook for UOB in GBP covered bonds.

UOB is the first non-UK bank to access the GBP covered bond market post summer, to take advantage of the strong demand for front-end covered bonds. The three-year covered bond appealed to investors in the current macro environment and saw robust investor demand from real money fund managers, insurance and bank treasuries.

Ms Koh Chin Chin, Head of Group Treasury, Research and Customer Advocacy, UOB, said, "We were glad to be back to engage the covered bond market, and heartened to see the continued strong reception towards UOB credit and the Singapore Covered Bond by global investors."

Salient points about this offering

  • Strong outcome with a rare GBP covered bond, allowing the Bank to tighten pricing and upsize the transaction
  • Achieved tight pricing, a testament of UOB's robust credit quality. Priced 2bps inside of pre-summer supply from the region, in contrast to recent market re-opening trends with this week's UK supply re-opening with spreads 3bps wider than pre-summer
  • Tightest ever priced 3-year GBP SONIA covered bond out of Singapore and joint tightest 3-year GBP SONIA covered bond in 2024 YTD

Distribution Statistics

  • Final orderbook >1bn from 20 investors, with UK ~81%, Asia ~18% and Others ~1%  
  • Robust investor demand from Banks ~51%, Fund Managers ~31%, Central Banks/Official Institutions/Insurance ~11%, Others ~7%

 

source: UOB

【香港好去處】etnet全新頻道盛大推出!全港最齊盛事活動資訊盡在掌握!► 即睇

人氣文章
財經新聞
評論
專題
專業版
HV2
精裝版
SV2
串流版
IQ 登入
強化版
TQ
強化版
MQ

【etnet 30周年】多重慶祝活動一浪接一浪,好禮連環賞!

【etnet30周年連環賞】睇住賞Moon-River RELOVE 蛋白酵素去漬抑菌手洗精 (價值HK$188)

etnet榮獲HKEX Awards 2023 「最佳證券數據供應商」大獎

回顧24 展望25

貨幣攻略

大國博弈

說說心理話

聖誕新年特輯

Watche Trends 2024

北上食買玩

Artcation

秋冬養生食療

消委會報告

山今養生智慧

輕鬆護老