By Saurabh Chaturvedi
SINGAPORE--United Overseas Bank Ltd. (U11.SG) said Tuesday it plans to issue 750 million Singapore dollars (US$528 million) of subordinated notes due for maturity in 2029.
The issuance will be part of the lender's S$15 billion euro medium-term note program and will carry an interest rate of 3.50% per annum payable semi-annually, UOB said in a stock-exchange filing.
The issue date of the notes is expected to be Feb. 27, 2017, it added.
The notes will have first callable date in February 2024. A callable bond allows the issuer to redeem the bond before maturity.
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