DBS prices Singapore's first notes referencing Sora benchmark

Singapore

DBS Bank has priced floating-rate notes with the Singapore Overnight Rate Average (Sora) as the reference rate for the calculation of interest - said to be an industry first.

The issue of S$20 million floating-rate notes, due 2021 with a one-year tenor, comes under its US$30 billion global medium-term note programme, DBS said on Wednesday.