Earlier this week on October 21, United Overseas Bank UOB issued its second onshore Panda bond. At Rmb5 billion $700 million it was priced at a mid-range of 2.3%.
This was within the initial price range of 2.05% and 2.65% and was 46 basis points above the three-year China Development Bank CBF benchmark bond yield.
FinanceAsia understands from a Hong Kong-based senior banking source close to the deal that the plan is to list the bond on the Singapore Exchange SGX, subject to regulatory approval. FA also understands that UOB, which issued its first onshore panda bond in 2019, is also the only...
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