UOB raises S$850 million of Basel III tier-1 capital

Strong demand allows the Singapore bank to price about 50bp wide of the old-style tier-1 capital.

United Overseas Bank raised S$850 million ($670 million) of tier-1 capital last night, testing investor appetite for new-look perpetual securities that feature greater loss-absorption and can be written down at regulators’ discretion.

¬ Haymarket Media Limited. All rights reserved.

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