UOB issues $1.284b notes due 2029 in global bond programme

​United Overseas Bank Limited (UOB) announced plans to issue $1.284b (GBP750m) floating rate covered bonds due June 2029, pursuant to its $19.b (US$15b) global covered bond programme.

The covered bonds will be issued as the 14th series under the global programme, UOB said in a statement.

The bonds are expected to mature on or nearest to 8 June 2029 and have an issue price of 100% of the bond’s amount, it added. The coupon of bonds will be composed of daily SONIA plus 0.52% per annum payable quarterly in arrear.

UOB, Bank of Montreal, London branch, and RBC Europe Limited have been appointed as joint lead managers of the bonds.