UOL raises $156M in debt with 3.2% notes due 2033
What's the deal? UOL GroupDealroom has a profile for this one. Try Dealroom → has raised US$146.7M through a fixed-rate note issue, carrying a 3.20% coupon and maturing in 2033. The notes were issued by UOL Treasury ServicesDealroom has a profile for this one. Try Dealroom →, a wholly owned subsidiary, and are guaranteed by the parent company.
Who's involved? CIMB Bank, DBS Bank, and United Overseas BankDealroom has a profile for this one. Try Dealroom → served as joint lead managers and bookrunners. The notes have received in-principle approval for listing on the Singapore ExchangeDealroom has a profile for this one. Try Dealroom →.
What's the endgame? The issue is Series 006 under UOL's US$1.47B multicurrency medium term note programme. By locking in fixed-rate financing to 2033, the company aims to fund property investments and manage interest rate risk.
The background: UOL is a Singapore-based property company with interests in real estate investment and development. It carries a market capitalisation of US$4.88B and holds a Buy analyst rating with a US$9.41 price target.
The signal: The participation of three major regional banks underscores continued investor appetite for UOL's credit. The recurring note programme points to how established property groups lean on capital markets for steady, long-dated funding.
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