UOB pilots digital bond issuance on Marketnode's asset issuance platform

It is the first financial institution on the platform as an issuer and bond house.

It is the first financial institution on the platform as an issuer and bond house.

UOB has piloted a digital bond issuance on Marketnode’s exchange-operated digital asset issuance platform, becoming the first financial institution in Singapore to do so.

The bank’s latest perpetual, non-call seven-year additional Tier 1 (AT1) capital securities offering is the industry’s first public capital issuance to reference the Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) rate.

The AT1 securities have been priced at a fixed coupon rate of S$2.55 per cent. UOB raised a total of S$600 million, with a final orderbook of more than S$b from a total of 73 accounts.

The transaction saw a subscription rate of 1.7 times, bolstered by an extensive investor base comprising both quality institutional accounts and private banking investors, the bank said.

A joint venture between the Singapore Exchange and Temasek, Marketnode is an exchange-led digital asset venture focused on capital markets workflows.

UOB

Singapore

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