FOX: DBS Bank Plans Five-Year Dollar Benchmark Bond - Source
NEW YORK – Singapore-based regional bank DBS Bank (D05.SG) plans to issue five-year notes in U.S. credit markets on Tuesday, according to people familiar with the matter.
Early price talk suggests the Rule 144A private-placement notes will offer investors around 150 basis points over the Treasury rate.
The notes are expected to be rated Aa1 by Moody's Investors Service, and AA-minus by Standard & Poor's Ratings Services and Fitch Ratings.
Net proceeds are for general corporate purposes. The notes are being issued under DBS's $15 billion global medium-term note programme, according to Fitch.
DBS is Singapore's largest bank by assets; it is 28% owned by the government, via Temasek Holdings, according to Fitch.
DBS, Bank of America Merrill Lynch, and Goldman Sachs Group are lead bookrunners on the deal.
