DBS bonds: top rating, cover pool of nearly S$5b mortgage loans

Singapore

DBS Bank's covered bonds programme, which has been assigned an expected top rating from Fitch ratings, would be secured against loans valued at close to S$5 billion for private properties, several of which are held for investments.

This was revealed in a pre-sale report from Fitch, which has assigned a triple-A expected rating with "stable outlook" to the bank's inaugural series of mortgage bonds to be issued under its US$10 billion global…