UOB Sydney issues record A$2bn bond for a Singapore issuer

UOB Sydney Branch has priced a A$2 billion $1.28 billion three-year senior floating-rate bond on February 21   the largest-ever Australian dollar issuance from a Singapore issuer.

The pricing of the floating rate instrument, at 0.65% above the three-month Bank Bill Swap Rate BBSW, also represents the tightest spread achieved by any Asian bank for an issuance above A$1 billion, according to a ANZ media release.

The joint lead managers on the deal were Australia and New Zealand ANZ Banking Group, Bank of China, Commonwealth Bank of Australia, UBS, UOB and Westpac Banking Corporation.

The bond issuance comes as the Australian...