{
  "id": 3637546,
  "title": "UOB prices landmark €1 billion dual-tranche covered bond offering",
  "url": "https://urgent.news/2026/08/27/uob-prices-landmark-1-billion-dual-tranche-covered-bond-offering",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T01:01:13.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/banking-finance/uob-prices-landmark-eu1-billion-dual-tranche-covered-bond-offering"
  },
  "original_language": "en",
  "account": "UOB has priced a landmark €1 billion dual-tranche covered bond offering as the first executed by an Asian issuer under its US$15 billion Global Covered Bond Programme. This marks the first two-year euro covered bond issuance from an Asia-Pacific issuer since 2023, showcasing strong investor demand. The offering, which generated exceptionally strong investor interest, exceeded peak combined order books of €4.25 billion within four hours of launch, leading to a €3.9 billion final book and about four times oversubscription. To optimize funding spreads, UOB tightened pricing, re-pricing the two-year tranche by 8 basis points and the five-year tranche by 6 basis points. Both tranches share an expected issue date of Sep 8 and are backed by Glacier Eighty, a portfolio of loans. The bonds are expected to receive Aaa and AAA ratings, respectively. The dual-tenor strategy attracted a diverse investor base, with bank treasuries dominating the two-year tranche (56%) and asset managers leading the five-year tranche (41%).",
  "summary": "They are offered under the bank’s US$15 billion Global Covered Bond Programme",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "UOB prices landmark US$1.2 billion dual-tranche euro covered bond offering",
        "url": "https://urgent.news/2026/08/27/uob-prices-landmark-us-1-2-billion-dual-tranche-euro-covered-bond",
        "published": "2026-08-27T01:01:13.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}