UOB completed its second international bond offering in as many weeks on Wednesday with a new $500 million lower tier-2 LT2 deal that replaces legacy capital maturing next month. Singapore's third largest bank by assets has had an active start to the year after completing a debut 500 million covered bond last week, the City State's first euro-denominated deal of the year. The new A2A rated, Reg S transaction also represents Singapore's first dollar-denominated deal of the year and received a relatively warm reception from investors, with the order book building from $750 million within a few hours to a peak... ¬ Haymarket Media Limited. All rights reserved.
United Overseas Bank ( UOB ) has completed its second international bond offering in as many months with a new $ 500 million lower tier-2 deal that replaces legacy capital maturing next month . Bankers consider this a good move considering the bond markets are only just beginning to recover following two months of volatility .