Singapore's DBS raises $2 billion through US dollar bonds, term sheet shows
DBS Group, Southeast Asia's biggest bank, has raised $2 billion through a multi-tranche U.S. dollar senior bond issuance for general business purposes and to finance treasury activities, according to a term sheet seen by Reuters on Friday. The issuance consists of two floating rate notes, raising $1 billion and $500 million with three-year and five-year tenors, respectively, along with a three-year fixed-rate note raising $500 million, offering a coupon rate of 4.403%. Orders for both floating rate notes hit $3 billion each, with the five-year tranche receiving the most demand from 179 accounts.