---
title: "UOB prices US$1.4 billion floating rate covered bonds due 2030"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296280101.md"
description: "UOB priced £1 billion (US$1.4 billion) floating rate covered bonds due February 2030, with an issue date of Aug 25 and a listing application to the Singapore Exchange. Interest is based on Sonia plus 0.49%, guaranteed by Glacier Eighty. This is the 17th series under UOB's US$15 billion programme, expected to receive top ratings from Moody’s and S&P. Joint lead managers include Bank of Montreal, HSBC Singapore, RBC Europe, and Standard Chartered."
datetime: "2026-08-18T23:57:34.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296280101.md)
  - [en](https://longbridge.com/en/news/296280101.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296280101.md)
---

# UOB prices US$1.4 billion floating rate covered bonds due 2030

\[SINGAPORE\] UOB on Wednesday (Aug 19) said that it has priced £1 billion (US$1.4 billion) floating rate covered bonds due February 2030.

The issue date of the covered bonds is expected to be Aug 25. An application will be made to the Singapore Exchange for the listing and quotation.

The covered bonds will bear interest at the compounded daily Sterling Overnight Index Average (Sonia) rate, plus 0.49 per cent per annum payable quarterly in arrear.

The Sonia rate is the average of the interest rates that banks pay to borrow the pound sterling from other financial institutions and institutional investors overnight.

Payments of interest and principal will be guaranteed by Glacier Eighty. The guarantee is secured by a portfolio of loans purchased by the company from the bank and other assets of the company.

The covered bonds, which are issued as the 17th series under UOB’s US$15 billion global covered bond programme, are expected to be rated “Aaa” by Moody’s Investors Service and “AAA” by Standard & Poor’s Rating Services.

Aside from UOB, Bank of Montreal, HSBC Singapore, RBC Europe and the Singapore branch of Standard Chartered have been appointed as joint lead managers for the covered bonds.

Shares of UOB closed 0.6 per cent or S$0.25 lower at S$40.88 on Tuesday.

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