UOB prices capital securities with reset coupon rate referencing SORA-OIS benchmark
8 Jan 2021 |
The Asset
In its latest move to promote the use of a new pricing benchmark in the Singapore dollar bond market, UOB has
priced Singapore’s
coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) rate.
The reset coupon rate of the bank’s perpetual, non-call five-year additional Tier 1 (AT1) securities on the first call date will reference the five-year SORA-OIS rate, instead of the five-year Swap Offer Rate (SOR) interest rate swap (IRS) that had been the benchmark reference rate in the market.
The Straits Times
UOB references Sora in pricing its capital securities
UOB s latest issuance is a step forward to promote the adoption of a Sora-based pricing benchmark in the Singdollar bond market.PHOTO: ST FILE
PublishedJan 9, 2021, 5:00 am SGT
https://str.sg/JD68
They can read the article in full after signing up for a free account.
Share link:
Or share via:
Sign up or log in to read this article in full
Sign up
All done! This article is now fully available for you
Read now
Get unlimited access to all stories at $0.99/month for the first 3 months.
Get unlimited access to all stories at $0.99/month for the first 3 months.
OCBC extended more than S$1b in Sora-linked home loans since launch businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
MAS expands industry steering committee mandate to drive Sibor transition businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
The Monetary Authority of Singapore (MAS) is expanding the mandate of the steering committee that is overseeing the Swap Offer Rate (SOR) transition to Singapore Overnight Rate Average (Sora). Read more at straitstimes.com.