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UOB to issue S$850m perpetual capital securities with 5.25% rate per annum
The distribution rate will reset on 19 January 2028 and every five years thereafter.
United Overseas Bank is issuing S$850m perpetual capital securities with a fixed distribution rate of 5.25% per annum, according to a bourse filing.
The perpetual capital securities will bear a fixed distribution rate of 5.25% per annum, subject to a reset on 19 January 2028 and every five years thereafter, to a rate equal to the then-prevailing 5-year SORA-OIS plus the initial spread of 2.393%.
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The securities will be issued under the US$30b Global Medium Term Note Programme (the "GMTN Programme").
UOB has been appointed the sole global coordinator and bookrunner for the perpetual capital securities.