Commentary & Deal Flow

Reoffer: 3.5yr: SONIA+49 / 100

Final Books: Orderbooks > £1.5bn (pre-rec). Peak book in excess of £1.7bn (pre-rec).

Launched: 3.5yr: £1bn @ SONIA+49bp - Orderbooks > £1.5bn (pre-rec)
Spread set at: 3.5yr: SONIA+49bp - Orderbooks in excess of £1.7bn (pre-rec) | Books subject 12:00 LDN
Book Update: Books in excess of £1.25bn
IPTs: 3.5yr: SONIA+54a

• Issuer: United Overseas Bank Limited (Ticker: UOBSP)
• Issuer LEI: IO66REGK3RCBAMA8HR66
• Type: Singapore Covered Bond backed by 100% SGD denominated Singaporean residential mortgage loans, regulated under MAS Notice 648 pursuant to the Banking Act in Singapore, ECBC Covered Bond Label Compliant
• Covered Bond Guarantor: Glacier Eighty Pte. Ltd.
• Expected Issue Ratings: Aaa/AAA (Moody's/S&P)
• Format: Reg S (Category 2), Registered (TEFRA not applicable)
• Currency: £
• Size: £1bn
• Trade Date: 18-Aug-26
• Issue Date: 25-Aug-26 (T+5)
• Maturity: Interest Payment Date falling on or nearest to 25-Feb-30 (soft bullet)
• Coupon: Floating, Compounded Daily SONIA, 5 day observation lag, ACT/365F. Compounded Daily SONIA+49bps per annum payable quarterly in arrear on each Interest Payment Date up to but excluding the Maturity Date. If applicable, Compounded Daily SONIA+49bps per annum payable monthly on each Interest Payment Date from and including the Maturity Date up to but excluding the Extended Due for Payment Date.
• Reoffer Spread: SONIA+49
• Reoffer Price: 100
• Listing / Governing Law: Singapore Exchange Securities Trading Limited (“SGX-ST”) / English Law (bond and swap documents) & Singapore law (asset documents)
• Denominations: £100,000 + £1,000
• List/Docs: SGX-ST / US$15bn Global Covered Bond Programme
• ISIN/Common Code: XS3479607569 / 347960756
• Joint Lead Managers: BMO (B&D), HSBC, RBC, Standard Chartered Bank, UOB
• Target Investors: Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional investors only (all distribution channels). No PRIIPS Key Information Document (KID) or CCI product summary has been prepared as not available to retail in the EEA or in the UK
• Timing: Priced, ToE 14:23, FTT 14:55