Home News Banking & finance

UOB prices Singapore's first capital securities with reset coupon rate that references SORA Overnight Indexed Swap rate

Felicia Tan
Felicia Tan1/8/2021 8:4 AM GMT+08  • 2 min read
UOB prices Singapore's first capital securities with reset coupon rate that references SORA Overnight Indexed Swap rate
The securities are priced at a coupon of 2.25% per annum, 181 basis points above the prevailing five-year SORA-OIS as at Jan 7.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

UOB announced on Jan 8 that it has successfully priced Singapore’s first capital securities with a reset coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) rate.

The reset coupon rate of UOB’s perpetual, non-call five year additional Tier 1 (AT1) securities on the first call date will reference the five-year SORA-OIS rate instead of the five-year Swap Offer Rate (SOR) interest rate swap (IRS) that had served as the benchmark reference rate in the market.

The securities are priced at a coupon of 2.25% per annum, 181 basis points above the prevailing five-year SORA-OIS as at Jan 7.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.