UOB's US$600m notes priced at 2.88%

Notes were about 7.3 times subscribed.

United Overseas Bank Limited (UOB) is issuing US$600 million subordinated notes at 2.88% on 8 September 2016. The notes are due in 2027 callable in 2022.

According to UOB’s release, the notes were subscribed around 7.3 times with an order book of US$4.4 billion. Net proceeds from the issuance will be used for general business purposes. It will be under UOB’s S$15 billion euro medium term note programme, the bank said.

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