Corporate digest

DBS Bank

DBS BANK said on Tuesday that it has established a US$10 billion Global Covered Bond Programme, under which covered bonds may be issued from time to time and investors will have recourse to both the issuer and a portfolio of assets through the covered bond guarantor, Bayfront Covered Bonds. The covered bonds may be offered to certain non-US investors outside the United States and to "qualified institutional buyers". The net proceeds from the issue of each tranche of covered bonds will be used for general business purposes of the DBS Group.

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