DBS sets new record with AT1

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By Morgan Davis
21 Feb 2020

DBS Group Holdings raised $1bn from a record setting bank capital transaction on Thursday. With the order book more than five times subscribed, the Singaporean bank was able to seal its trade at the lowest coupon ever.

DBS's transaction follows its record debut in the additional tier one (AT1) bank capital market in 2016. At that time, the firm’s $750m 3.6% perpetual deal had the lowest coupon and tightest spread for a Basel III AT1 security by any bank globally.

On Thursday, DBS ...

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