UOB Makes Waves with Landmark RMB 5 Billion Panda Bond

UOB successfully issued a RMB 5 billion three-year Panda bond at 2.3%, drawing strong demand and marking its largest ever issuance in this category. The bond is set to list on the SGX, a first for a financial institution, underscoring UOB's dedication to China's capital markets.

In a strategic financial move, UOB has successfully issued a RMB 5 billion three-year Panda bond, the first since 2019, priced at 2.3%. This significant issuance has garnered notable attention, achieving a subscription ratio of 1.73 times, reflecting strong demand from onshore and offshore investors alike.

The issuance is notable for being the largest of its kind by a foreign financial institution for a three-year tenor, with existing and new investors showing considerable interest. Notably, new investors constituted over 20% of the allocations, indicating expanding trust in UOB's creditworthiness.

Further cementing its pioneering spirit, UOB plans to list the bond on the Singapore Exchange, subject to regulatory approval. This move makes it the first financial institution to list a Panda bond on the SGX, marking further integration into the growing Panda bond market.

(With inputs from agencies.)