UOB issues 1 billion euros in covered bonds in Europe

Singapore-based UOB has priced a dual-tranche covered bond issuance totaling 1 billion euros on the European capital market. The offering consists of two 500 million euro tranches with maturities of two years and five years. The transaction saw significant investor interest, with order books peaking at 4.25 billion euros, representing more than four times oversubscription.

In addition to its capital market activities, UOB has achieved a milestone in digital transformation. The bank became the first Singapore-headquartered institution to successfully complete live transactions using tokenized deposits on the Swift blockchain ledger. Conducted in cooperation with HSBC, these initial transactions were in Hong Kong dollars, with plans to expand to Singapore dollars and US dollars in September to optimize liquidity management and 24/7 payment settlements.