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Baiduri Bank makes international bond market debut with inaugural SGD issuance
UOB supports landmark first overseas bond issuance by a Bruneian financial institution as Sole Lead Manager and Bookrunner, following its role as Sole Arranger and Dealer for Baiduri Bank’s USD2 billion EMTN Programme
Bandar Seri Begawan, 20 October 2026 – Baiduri Bank today announced the successful pricing of its inaugural SGD 280 million 3-year senior unsecured notes due in 2029 (the Notes) under its USD2 billion euro medium term note programme (the EMTN Programme), which was established on 5 October 2026. The Notes will bear interest at a fixed rate of 2.95% per annum.
The issuance of the Notes marks Baiduri Bank's debut in the international bond markets and the first overseas bond issuance by a Bruneian financial institution. The Notes are expected to be issued on 26 October 2026.
Application will be made to the Singapore Exchange Securities Trading Limited (the SGX-ST) for the listing and quotation of the Notes on the SGX-ST. There is no guarantee that an application to SGX-ST will be approved. SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein. Admission to the Official List of SGX-ST and quotation of the Notes on SGX-ST is not to be taken as an indication of the merits of Baiduri Bank, its subsidiaries, its associated companies, the EMTN Programme or such Notes.
United Overseas Bank Limited (UOB) acted as sole Lead Manager and Bookrunner for the issuance of the Notes, building on its role as Sole Arranger and Dealer for Baiduri Bank’s EMTN Programme.
The issuance attracted strong support from institutional investors, with orderbooks exceeding SGD400 million from 18 accounts. The final allocation comprised 62% fund managers, insurers and agencies, and 38% banks and private banks. By geography, 79% of the Notes were allocated to investors in Singapore and 21% to investors outside Singapore.
Ti Eng Hui, Chief Executive Officer, Baiduri Bank, said: “This inaugural bond issuance is a landmark achievement for Baiduri Bank, representing both our first participation in the international bond market and an important milestone in our funding diversification journey. As the first Bruneian institution to undertake such an issuance, we have successfully expanded our sources of funding and enhanced our financial flexibility to support sustainable growth. The strong investor response reflects confidence in Baiduri Bank's fundamentals and our long-term strategic vision.”
Samuel Tan, Head of Group Investment Banking, UOB, said: “This landmark transaction marks an important milestone for Baiduri Bank and Brunei’s financial sector. From establishing its EMTN Programme to executing this inaugural issuance, UOB has worked closely with Baiduri Bank to broaden its funding options and connect it with a wider institutional investor base. The strong investor response signals growing opportunities for ASEAN issuers to access international capital, reinforcing Singapore’s role as a leading capital markets hub for the region. We are pleased to have supported Baiduri Bank on this milestone transaction and look forward to supporting its future capital markets ambitions.”
The successful pricing of the Notes follows the establishment of Baiduri Bank's USD2 billion EMTN Programme on 5 October 2026. The EMTN Programme strengthens Baiduri Bank’s funding flexibility and diversifies its sources of funding as it advances its long-term growth ambitions.
Baiduri Bank's senior management also visited SGX ahead of the issuance, reinforcing Baiduri Bank's engagement with Singapore's capital markets ecosystem.
Baiduri Bank senior management with SGX representatives Pol de Win, Senior Managing Director, Head of Global Sales and Origination, and Samuel Gan, Senior Director, Head of Debt Capital Markets.
