DBS hires for potential Australian dollar covered bond

[SINGAPORE] DBS Bank has hired Barclays, DBS, NAB, RBC Capital Markets and Westpac to arrange a covered bond investor update call on May 23.

A potential Australian dollar covered bond transaction may follow, subject to market conditions. The covered bond is expected to be rated Aaa/AAA (Moody's/Fitch).

DBS issued Singapore's first covered bond in July last year, selling a US$1billion three-year issue, and also looked into selling a sterling issue, but this would be its first covered bond in Australian dollars.

REUTERS