DBS places out its first covered bonds from Singapore
Hong Kong
DBS Bank placed the first Singaporean benchmark in offshore covered bonds with a US$1 billion three-year offering, setting the foundation for Asian banks to access international investors during challenging markets.
The long-awaited transaction, flagged as early as eight years ago, finally kicks off a new asset class for Singapore. It also provides pricing guidance for South Korea's first statutory covered bond, which is expected to be issued by Kookmin Bank in the coming months.
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