Singapore’s DBS Bank launches $10 billion global covered bond program

By Marisa Wong

Madison, Wis., June 16 – DBS Bank Ltd. announced it has established a $10 billion global covered bond program.

Barclays Bank plc, Singapore Branch and DBS are joint arrangers of the Rule 144A program, and DBS, Barclays Bank, Citigroup Global Markets Ltd., Citigroup Global Markets Singapore Pte. Ltd., Deutsche Bank AG, Singapore Branch, J.P. Morgan Securities plc, Societe Generale, and UniCredit Bank AG are the initial dealers.

Bayfront Covered Bonds Pte. Ltd. is the covered bond guarantor.

Proceeds from each tranche issued under the program will be used for general business purposes.

DBS Bank is a Singapore-based financial services group.

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