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DBS places out its first covered bonds from Singapore

DBS Bank attracted US$1.37 billion in orders for its covered bond, a US$1 billion three-year at 37 bps over mid-swaps. The long-awaited transaction kicks off a new asset class for 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...