UOB prices provide for A$900m floating rate notes at 0.72% pa

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Staff reporter

, Australia

Its maturity date will be five years from the date of issue.

United Overseas Bank (UOB) has announced that its Sydney branch will issue A$900 million floating rate senior unsecured notes due 2027 at a price of 0.72% per annum.

The scheduled notes will use the benchmark three-month bank note swap rate and will be paid quarterly in arrears. Its maturity date will be five years from the date of issue.

The Notes will be issued under UOB’s US$15 billion Global Medium Term Note Program (GMTN Programme).

Australia and New Zealand Banking Group, Commonwealth Bank of Australia and United Overseas Bank Limited have been appointed co-managers and bookrunners for the Notes.

UOB expects the Notes to be rated Aa1 by Moody’s Investors Service, AA- by Standard & Poor’s Rating Services and AA- by Fitch Ratings.

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