By William Gullotti
Buffalo, N.Y., April 16 – United Overseas Bank Ltd., Sydney Branch priced A$1.25 billion of three-year fixed- and floating-rate notes (Aa1/AA-/AA-) at par under its $30 billion global medium-term note program, according to multiple documents on Tuesday.
The two-part offering consists of A$300 million fixed rate notes with a 4.67% coupon and A$950 million floaters.
Neither tranche may be called or put.
The floaters bear interest at BBSW plus 72 basis points, subject to a floor of 0%.
Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, UBS AG, Australia Branch and United Overseas Bank Ltd. are the joint lead managers for both Regulation S tranches, with Agricultural Bank of China Ltd., Singapore Branch also listed as co-manager for each.
Listings for both tranches are expected on the Singapore Exchange effective April 17.
United Overseas Bank Ltd. is based in Singapore.
| Issuer: | United Overseas Bank Ltd., Sydney Branch
|
| Amount: | A$1.25 billion
|
| Issue: | Senior unsecured notes
|
| Maturity: | April 16, 2027
|
| Bookrunners: | Australia and New Zealand Banking Group Ltd., Commonwealth Bank of Australia, UBS AG, Australia Branch and United Overseas Bank Ltd.
|
| Co-manager: | Agricultural Bank of China Ltd., Singapore Branch
|
| Price: | Par
|
| Pricing date: | April 9
|
| Settlement date: | April 16
|
| Listing date: | April 17
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA-
|
| Fitch: AA-
|
| Distribution: | Regulation S
|
|
|
| Floating-rate notes
|
| Amount: | A$950 million
|
| Issue: | Floating-rate notes, series 69
|
| Coupon: | BBSW plus 72 bps, subject to 0% floor
|
| ISIN: | AU3FN0086633
|
|
|
| Fixed-rate notes
|
| Amount: | A$300 million
|
| Issue: | Fixed-rate notes, series 70
|
| Coupon: | 4.67%
|
| Yield: | 4.67%
|
| ISIN: | AU3CB0308609
|
|
|
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