SINGAPORE, March 9, 2023 /PRNewswire/ -- UOB has priced a AUD1.5 billion dual tranche 3-year Senior Unsecured Bond ("Bond") comprising AUD 750 million Floating rate ("FRN") tranche at 3m BBWS + 73 bps and AUD 750 million Fixed Rate ("FXD") tranche on equivalent basis at 4.642%, to be issued under the Global Medium-Term Note (GMTN) Programme. It is the largest AUD bond on record from an Asia ex-Japan bank, and represents the tightest pricing YTD in AUD for any 3-year FI bond, including from major banks.
Ms Koh Chin Chin, Head of Group Treasury and Research, UOB, said, "This is our first international benchmark offering this year and we're very pleased with the reception we were met with, not only from our core investor base, but also from new investors both domestically in Australia and globally. The AUD market not only offers us very valuable diversity, but volumes now are comparable to other international markets. Our commitment to accessing this market as one of our core sources of funding only continues to grow."
Here are some of the deal highlights:
Transaction highlights
Well-timed to leverage strong market technicals
Overwhelming reception with the largest 3-year AUD orderbook for a non-major YTD
Achieved impressive issuance size while maximising pricing tensions
Final orderbook – AUD 2.8 billion from 99 investors
By Investor Type |
Percentage |
Bank |
53 % |
Asset Managers/Fund Managers/Insurance |
28 % |
Official Institutions |
10 % |
Middle Markets (regional banks/brokerages) |
5 % |
Others |
4 % |
By Geography |
Percentage |
Asia |
53 % |
Australia |
41 % |
Europe, the Middle East and Africa (EMEA) & |
6 % |