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UOB Prices 1 Billion-Euro Dual-Tranche Covered Bonds

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United Overseas Bank (SGX:U11) has priced a 1 billion-euro dual-tranche fixed-rate covered bond offering under its $15 billion global covered bond program, according to filings with the Singapore bourse on Thursday.

The lender priced 500 million euros of 3.118% covered bonds due in 2028 and 500 million euros of 3.342% covered bonds due in 2031.

The bonds will be guaranteed by Glacier Equity and are expected to be rated Aaa by Moody's and AAA by S&P.

They are expected to be issued on Sept. 8, the filing said.

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