PETALING JAYA: United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has priced an offering of RM750 million Tier 2 subordinated medium term notes due Au...
United Overseas Bank Bhd has priced an offering of RM750 million Tier 2 subordinated medium term notes due August 2030 and callable in August 2025 at a fixed coupon rate of 3% per annum.
Rated AA1 by RAM Rating Services Bhd, the subordinated debt offering saw strong demand, with the issuance size increased from the initial target of RM600 million to RM750 million and oversubscribed more than two times. UOB Malaysia CEO Wong Kim Choong said he is encouraged by investors’ response to the bank’s Basel III-compliant Tier 2 subordinated notes and the pricing it achieved.
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