February 21, 2017 / 1:39 AM / 6 months ago

UOB eyes US dollar, euro covered bonds

SINGAPORE, Feb 21 (IFR) - Singapore's United Overseas Bank has hired banks to lead a proposed euro benchmark five-year and/or US dollar benchmark three-year Reg S covered bond issue.

Deutsche Bank, DZ Bank, HSBC, UBS and UOB are managing the deal, which will launch in the near future, subject to market conditions.

The bonds are expected to be rated Aaa/AAA (Moody's/S&P).

UOB made its covered bond debut last March, when it sold a 500 million euro ($529 million) five-year issue. (Reporting by Daniel Stanton; Editing by Vincent Baby)

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