The Singapore-headquartered banking group has tapped the market for credit with a bond composed of three elements – one fixed-rate note and two floating-rate parts.

United Overseas Bank (UOB), which provides services including private banking and wealth management, yesterday said it has priced $2 billion in a US dollar-denominated multi-tranche bond.
 
The bond is composed of a three-year fixed-rate note, three-year floating-rate note and five-year FRN tranches; they are priced set at the level of US Treasuries plus 40 basis points, Secured Overnight Financing Rate (SOFR) plus 58 basis points and SOFR plus 65 basis points, respectively.

The Singapore-headquartered bank said it re-entered the US dollar market to exploit recent “constructive” markets and a stable window with no key market-moving economic events or holidays and ahead of US President Trump's proposed tariffs on 2 April. 

In separate news, UOB said it has officially launched its 11th Foreign Direct Investment Advisory Centre in Seoul to support the South Korean companies seeking to expand into Southeast Asian countries. This centre expands on the bank’s dedicated South Korea desk in Singapore that was established in 2023.

UOB said South Korean companies are “increasingly looking towards Southeast Asia as a strategic hub for business growth, with a notable surge in Korean FDI into this region, particularly in the sectors such as technology, consumer goods and manufacturing.”