Last week August 24, United Overseas Bank UOB China efficiently priced a senior unsecured RMB 1 billion USD 146.04 million issuance within the China Interbank Bond Market CIBM, below the Bond Connect scheme.
The issuance marked the fourth time that the Singapore-headquartered financial institution had tapped the Yuan-denominated market, following its debut onshore monetary issuance in 2018, its first Panda bond issuance in 2019, and a UOB China Tier 2 bond in the identical 12 months.
With a three-year tenor and a coupon fee of two.88% equal to 50 bps over the corresponding China Development Bank bond reference yield, the issuance achieved the bottom ever absolute…
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