Bond Factsheet
UOBSP 3.580% Perpetual Corp (SGD)
United Overseas Bank Limited (UOB)
Indicative
Full Lot
Bid Price 99.996
Change in Bid Price 0.001
Bid Yield (%) -
Change in Bid Yield
-
Ask Price 100.080
Change in Ask Price 0.014
Ask Yield (%) -
Change in Ask Yield
-
Indicative price as of 17 Jul 2026, 12:00am
Bond Issuer
United Overseas Bank Limited (UOB)
Guarantor
-
Announcement Date
10 Jul 2019
Issue Date
17 Jul 2019
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.284
Modified Duration
-
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
3.580
Coupon Type
Variable
Annual Coupon Rate
3.580
Coupon Frequency
Semi Annually
Seniority
Junior Subordinated
Capital Structure
Additional Tier 1
Reference Rate
Reset Date: 17 Jul 2026 and every 7 years thereafter
Reset Rate: Prevailing 7-year SGD Swap Offer Rate + the Initial Spread (1.795%)
ISIN
SGXF48097749
CUSIP
AZ5939162
Bond Currency
SGD
Total Issue Size
750,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Banks
Issuer Credit Rating (S&P/ Fitch)
***/ AA-
Bond Credit Rating (S&P/ Fitch)
***/ BBB+
Shariah Compliant
No
Exchange Listed
SGX
Loss Absorption
LOSS ABSORPTION EVENT
Earlier of the MAS notifying the Issuer in writing (i) that it is of the opinion that a write down or conversion is necessary, without which the Issuer would become non-viable or (ii) of its decision to make a public sector injection of capital or equivalent support, (in each case) without which the Issuer would have become non-viable, as determined by the MAS
WRITE-DOWN (PARTIAL ALLOWED)
- Upon occurrence of a Loss Absorption Event, cancellation of the accrued distributions and if insufficient, permanent write-down (partial or in full) of the prevailing principal amount
- Write-down amount is ascertained by the Issuer (and the Regulator is satisfied) such that the amount Written Down will be sufficient to ensure that the Issuer ceases to be non-viable
- Write-down pro rata with other Additional Tier 1 instruments that are capable of being converted or written-down under any applicable laws
SINGAPORE BAIL-IN POWER
Each Securityholder and Trustee by its acquisition of the Perpetual Capital Securities acknowledges and accepts that the Perpetual Capital Securities may be the subject of a Bail-in Certificate and subject to the exercise of Bail-in Powers by the Resolution Authority without any prior notice, and acknowledges, accepts, consents, and agrees to be bound by the exercise of any provision of the Bail-in Certificate in accordance with its terms (which will take effect without any other or further act by the Issuer and which shall be binding on the Issuer, the Trustee and Securityholder), and the effect of the exercise of the Bail-in Powers by the Resolution Authority, that may include and result in one or more of the following:
(a) the cancellation of the whole or a part of such Perpetual Capital Securities;
(b) the modification, conversion or change in form of the whole or a part of such Perpetual Capital Securities;
(c) that such Perpetual Capital Securities are to have effect as if a right of modification, conversion or change of their form had been exercised under them; and
(d) any incidental, consequential and supplementary matters, including a requirement that the Issuer or any other person must comply with a general or specific direction set out in the Bail-in Certificate.
Deferral Interest Payment
If a Distribution is not paid in accordance with Condition 5(a), the Issuer is not under any obligation to pay that or any other Distributions that have not been paid. Such unpaid Distributions are non-cumulative and do not accrue Distribution. There is no limit on the number of times or the extent of the amount with respect to which the Issuer can elect not to pay Distributions pursuant to this Condition 5.
Distribution Stopper
If Distribution Stopper is specified as being applicable in the relevant Pricing Supplement and on any Distribution Payment Date, payment of Distributions scheduled to be made on such date is not made by reason of this Condition 5, the Issuer shall not:
(i) declare or pay any dividends or other distributions in respect of the Junior Obligations (or contribute any moneys to a sinking fund for the payment of any dividends or other distributions in respect of any such Junior Obligations);
(ii) declare or pay, or permit any subsidiary of the Issuer (other than a subsidiary of the Issuer that carries on banking business) to declare or pay, any dividends or other distributions in respect of Parity Obligations the terms of which provide that making payments of dividends or other distributions in respect thereof are fully at the discretion of the Issuer (or contribute any moneys to a sinking fund for the payment of any dividends or other distributions in respect of any such Parity Obligations); and
(iii) redeem, reduce, cancel or buy-back any Parity Obligations or Junior Obligations or permit any subsidiary of the Issuer (other than a subsidiary of the Issuer that carries on banking business) to redeem, reduce, cancel or buy-back any Parity Obligations or Junior Obligations (or contribute any moneys to a sinking fund for the redemption, capital reduction or buy-back of any such Parity Obligations or Junior Obligations),
in each case, until (x) the Distribution scheduled to be paid on any subsequent Distribution Payment Date (which, for the avoidance of doubt, shall exclude any Distribution that has been cancelled in accordance with these Conditions prior to and in respect of a Distribution Payment Date preceding such subsequent Distribution Payment Date) has been paid in full to the Securityholders (or an amount equivalent to such Distribution scheduled to be paid on such subsequent Distribution Payment Date has been irrevocably set aside in a separately designated trust account for payment to the Securityholders); or (y) the Issuer is permitted to do so by an Extraordinary Resolution.
Issuer Call
Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.
