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United Overseas Bank prices €500M of bonds

Singapore-based United Overseas Bank Ltd. plans to issue €500 million of fixed-rate covered bonds due 2023.

The bonds were priced with a coupon of 0.25% per annum. The issue price is 99.52% of the principal amount.

The bonds will be guaranteed as to payments of interest and principal by Glacier Eighty Pte. Ltd.

The maturity date is Sept. 11, 2023.

United Overseas Bank Ltd., HSBC France, Norddeutsche Landesbank – Girozentrale –, Société Générale and UBS Ltd. have been appointed as lead managers.