United Overseas Bank Limited on Dec, 02 2025 announced the pricing of a GBP750 million floating-rate covered bond issue, the fourteenth series under its US$15 billion Global Covered Bond Programme.

The bonds will be issued at 100% of their principal amount and pay interest quarterly in arrears at compounded daily SONIA plus 0.52% per annum. The notes are expected to be issued on Dec, 08 2025 and will mature on the interest payment date falling on or nearest to Jun, 08 2029.

Payments of interest and principal will be guaranteed by Glacier Eighty Pte. Ltd., secured by a portfolio of loans and other assets purchased from United Overseas Bank. The covered bonds are expected to be rated Aaa by Moody’s Investors Service and AAA by Standard & Poor’s Rating Services.

An application will be made to list and quote the securities on the Singapore Exchange Securities Trading Limited. There is no assurance that the application will be approved.

United Overseas Bank Limited, Bank of Montreal, London Branch and RBC Europe Limited have been appointed as joint lead managers for the transaction.