UOB deal exceeds expectations

Who says three''s a crowd? Not Singapore investors as they snap up UOB''s sub-debt bond, following similar deals from DBS and OCBC.

Rob Davies

August 23, 2001

When United Overseas Bank (UOB) of Singapore first announced its intention to issue S$750 million ($426.6 million) of subordinated debt, observers were keen to see just how well the deal would be executed compared to similar sub-debt deals launched recently by rival banks OCBC and DBS.

It would be fair to say that UOB's deal, which will form part of the bank's $3.2 billion acquisition of Overseas Union Bank (OUB), went better than UOB or its fellow arrangers, JPMorgan and Merrill Lynch, could have anticipated.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.