Issue of EUR500 million covered bonds and GBP350 million floating rate covered bonds by United Overseas Bank Limited
A&G News 9 April 2018
Allen & Gledhill advised United Overseas Bank Limited (“UOB”), as issuer, and Glacier Eighty Pte. Ltd (“Glacier Eighty”), as covered bond guarantor, on the issue of EUR500 million 0.500 per cent. covered bonds due 2025 and GBP350 million floating rate covered bonds due 2023 under the US$8 billion global covered bond programme established by UOB.
The bonds are unconditionally and irrevocably guaranteed as to payments of interest and principal by Glacier Eighty.
Advising UOB and Glacier Eighty as to Singapore Law were Allen & Gledhill Partners Magdalene Leong, Andrew Chan, Hoo Sheau Farn and Evan John Lam.
Advising UOB and Glacier Eighty as to Singapore tax issues was Allen & Gledhill Partner Sunit Chhabra.