DBS attracts record crowd

Strong demand from Asia''s private banking sector has led the Singapore bank''s tier 1 perpetual issue to close five times oversubscribed.
March 14, 2001
Asia's private client network is said to have represented about 80% of a $1.5 billion regional order book that propelled the global book above the $2.8 billion mark. The huge level of demand helped lead the perpetual non-call 10 offering to be upsized from $500 million to $725 million on pricing yesterday Wednesday, with total proceeds of $782 million raised, once an S$100 million $56.6 million tranche is taken into consideration.

The simultaneous Singapore dollar-denominated issue, which was viewed by the bank as a means of further developing the domestic bond market, similarly attracted healthy demand, with books closing three times oversubscribed at the S$300 million level. Led by DBS,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222