United Overseas Bank to issue $2.1B of notes

United Overseas Bank Ltd. plans to issue $2.1 billion of notes in three tranches.

The bank will issue $750 million of fixed-rate senior notes priced at par with a coupon of 3.059% per year, as well as $350 million of floating-rate senior notes priced at 70 basis points over the compounded index secured overnight rate, according to an April 1 release.

The bonds from both tranches will mature April 7, 2025.

In addition, United Overseas Bank plans to issue $1 billion of fixed-rate senior notes priced at par with a coupon of 3.863%. The notes will mature Oct. 7, 2032.

The notes are expected to be issued April 7 and will be traded on the Singapore Exchange Securities Trading Ltd.

BNP Paribas, Credit Suisse (Singapore) Ltd., The Hongkong and Shanghai Banking Corp. Ltd.'s Singapore branch, Standard Chartered Bank (Singapore) Ltd., UBS AG's Singapore branch and United Overseas Bank Ltd. are the joint lead managers for the issuance.