The company will apply for the bond to be listed on SGX.

UOB has successfully priced a $923.9m (RMB5b) three-year bond at 2.3%, marking the bank's first panda bond since 2019 and the largest issued bond amongst foreign issuers.

The issuance marked the fifth Chinese interbank bond offering by UOB and reopened the Panda bond market for global financial institution issuers.

The offering garnered a subscription ratio of 1.73 times from both onshore and offshore investors. Onshore investors in China accounted for 64% whilst offshore investors accounted for 36%.

The bond was also well-received by both existing and new investors. This includes banks (80%), securities firms (12%) and wealth management companies (8%).

The company will apply for the bond to be listed on the Singapore Exchange (SGX) becoming the first financial institution to list a Panda bond on SGX.

($1=¥5.41)