The Sydney branch of United Overseas Bank Limited (UOB) says that it intends to issue A$500 million ($489.4 million) floating rate notes due October 2023.

The notes will be issued under the US$15 billion ($20.29 billion) Global Medium Term Note Programme (the GMTN Programme).

The notes, which are A$-denominated, will carry a coupon of a three-month bank bill swap reference rate and 0.46% per annum payable quarterly in arrear.

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