The securities are expected to be issued on Feb 27, 2020, under the group’s US$30 billion global medium-term note programme.
More than US$5.5 billion of orders from 304 accounts were received for the deal, according to deal statistics seen byThe bulk of the orders came from Asia , while the rest originated from Europe, the Middle East and Africa.Net proceeds will be used for the finance and treasury activities of DBS Group, including the provision of intercompany loans or other forms of financing to DBS Bank and its subsidiaries.
DBS Bank was the sole global coordinator and structuring adviser for the offering. The joint lead managers were DBS Bank, Citigroup Global Markets Singapore, Société Générale and Wells Fargo Securities International. The securities are expected to be rated Baa1 by Moody’s Investors Services and BBB by Fitch Ratings. DBS Group as the issuer is rated Aa2 stable by Moody’s and Aa- stable by Fitch.Shares of DBS Group were up S$0.08 or 0.3 per cent to S$25.18 as at 10.13am on Friday.
Source: News Formal (newsformal.com)
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