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DBS to test demand in Singapore's first covered bond programme
The US$10b bonds, to be issued in euros or greenback, will be sold to investors in Asia, Europe and America
Add BT as a preferred sourcePublished Wed, Jun 17, 2015 · 09:50 PM
Singapore
FROM June 22, DBS will begin its global roadshow to sell its US$10 billion covered bonds programme to investors in Asia, Europe and the United States. In so doing, the Singapore bank will be the first to test the strength of demand for high-grade debt that is backed by mortgage loans out of Singapore, a closely regulated and unique property market.
DBS's covered bonds are expected to be rated triple-A, said Yeoh Hong Nam, DBS's head of wholesale funding, corporate treasury.
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