DBS nets $500m from tier two bond

By Morgan Davis
02 Mar 2021

DBS Group Holdings navigated choppy market conditions for its first tier two dollar bond in more than two years on Monday, using its strong credentials and rarity value to its advantage.

The Aa2/—/AA- bank's $500m subordinated trade follows similar deals from the other Singaporean banks a few months ago. OCBC sold a 1.832% 10 non-call five year tier two in September, and UOB printed a 10.5 non-call 5.5 year tier two the same month. OCBC set a record ...

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