DBS taps Aussie dollars for tier two paper

By Frank Jackman
30 Sep 2020

Singapore’s DBS Bank ventured into the Kangaroo market on Wednesday in search of tier two debt. Though Australian dollar tier two volumes have remained stable year on year, there is a marked decline in offshore issuance so far in 2020.

DBS Group Holdings returned with its second Kangaroo deal of 2020 this week, printing A$300m ($214.1m) of 10.5 year non call 5.5 tier two paper.

“For Asian financials like DBS, the Australian dollar is a regional currency and for them printing in it is more strategic in nature,” said ...

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