UOB issues Singapore's first panda bond

The offering has a subscription rate of 2.7 times from asset managers and commercial bank investors.

United Overseas Bank Limited (UOB) has announced it has priced Renminbi (RMB) bond at 3.49%, marking as its first Panda bond from Singapore and the second issued from a Southeast Asian financial institution.

The three-year $404.4m (¥2b) offering has a subscription rate of 2.7 times from asset managers and commercial bank investors across Asia. 38% was placed to China’s onshore investors and 62% to international offshore investors.

“Our participation in China’s onshore debt market, one of the largest globally, enables us to grow our presence in China as the country continues to liberalise the RMB and its financial markets,” said Wee Ee Cheong, deputy chairman and group CEO at UOB.

This Panda bond issuance from UOB is the second offering from the Group after United Overseas Bank (China)’s onshore financial bond issued in April 2018. Both issuances are rated AAA by China Chengxin International Credit Rating Co., Ltd with a stable outlook.

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit