UOB pilots digital bond issuance on Marketnode's asset issuance platform | Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis

UOB pilots digital bond issuance on Marketnode's asset issuance platform

It is the first financial institution on the platform as an issuer and bond house.

UOB has piloted a digital bond issuance on Marketnode’s exchange-operated digital asset issuance platform, becoming the first financial institution in Singapore to do so.

The bank’s latest perpetual, non-call seven-year additional Tier 1 (AT1) capital securities offering is the industry’s first public capital issuance to reference the Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) rate.

The AT1 securities have been priced at a fixed coupon rate of S$2.55 per cent. UOB raised a total of S$600 million, with a final orderbook of more than S$b from a total of 73 accounts.

The transaction saw a subscription rate of 1.7 times, bolstered by an extensive investor base comprising both quality institutional accounts and private banking investors, the bank said.

A joint venture between the Singapore Exchange and Temasek, Marketnode is an exchange-led digital asset venture focused on capital markets workflows.

Get Asian Banking & Finance - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Shares were priced at the top end, at KRW39,000 ($34).
In January, 1.2 million transactions were carried out via the SGQR.
Its launch will require legal changes to the nation’s foreign exchange and IT rules.
But less than half of consumers are impressed with the digital financial services currently offered.
Treasury teams can mobilize liquidity and fund intraday payments in real-time.
Customers have the option to pay their tax balances in full or partially.
About 750 new accounts have been opened in four APAC markets through the new portal.
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
SmartStream’s Peter Hainz and Amazon Web Services’ Anna Green shared their insights on the advantages of on-demand and highly scalable cloud environments for banks and other financial institutions, as well as the factors hindering its adoption in the region.
This August, the Asian Banking & Finance and SAP will provide insights on the evolving landscape for ESG in financial services.
Thirteen lenders noted that demand was moderately weaker than the preceding 3-month period.
Investors will likely seek signs that private lenders will be able to step up lending once COVID subsides.
It opens up new revenue models and lowers the cost-to-serve.
Bypassing credit cards, the payment instalment options prove to be attractive.
More banks and institutions are exploring its use for payments and cross-border transfers.