Taking advantage of a rebound in market conditions, United Overseas Bank UOB successfully priced a S$850 million $638.37 million perpetual non-call five-year additional Tier 1 PerpNC5 AT1 bond on January 12, 2023. The deal set a benchmark for the months ahead, marking the first significant Singapore dollar bond issuance of the year and a return by Singaporean banks to the domestic capital market after a quiet five-month period.
The order book gained early strong momentum and exceeded S$1 billion within three hours of opening, Edmund Leong, head of Group Investment Banking at UOB, told FinanceAsia.
“The deal generated strong interest amongst investors...
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