KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd (UOB) will issue a ringgit-denominated Basel III-compliant Tier 2 subordinated bond with a 4.65% coupon rate, which is the lowest for a Basel III-compliant Tier 2 to date.
In a statement yesterday, UOB said due to strong investor demand, the issue size increased from the initial target of RM500mil to RM1bil, which would be used for general corporate purposes.
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