By Paul A. Harris
Portland, Ore., Feb. 21 - Singapore's DBS Bank Ltd. priced a $1 billion issue of 2.35% five-year senior bank notes (Aa1/AA-/AA-) at a 145 basis points spread to Treasuries on Tuesday, according to a market source.
The spread came at the tight end of the Treasuries plus 145 bps to 150 bps guidance.
Bank of America Merrill Lynch, DBS Bank and Goldman Sachs were the joint bookrunners.
The Singapore-based financial services group plans to use the proceeds for general corporate purposes.
| Issuer: | DBS Bank Ltd.
|
| Amount: | $1 billion
|
| Maturity: | Feb. 28, 2017
|
| Securities: | Senior bank notes
|
| Bookrunners: | Bank of America Merrill Lynch, DBS Bank, Goldman Sachs
|
| Coupon: | 2.35%
|
| Price: | 99.986
|
| Yield: | 2.353%
|
| Spread: | Treasuries plus 145 bps
|
| Trade date: | Feb. 21
|
| Settlement date: | Feb. 28
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 145 bps to 150 bps
|
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