Chicago, May 15 – DBS Bank Ltd. London Branch listed £1 billion of floating-rate covered bonds due 2027 (//AAA), according to a pricing document.
The bonds are guaranteed by Bayfront Covered Bonds Pte. Ltd.
Potentially, the maturity date could be deferred one year to May 14, 2028. At that point, interest would stay the same but would be paid monthly instead of quarterly. Interest will be based on Sonia plus 55 basis points.
The bonds priced at par.
DBS Bank Ltd., Bank of Montreal, London Branch, HSBC Bank plc, ING Bank NV, Landesbank Baden-Wurttemberg, Lloyds Bank Corporate Markets plc and National Australia Bank Ltd. were the bookrunners.
The offering is listed in Singapore.
The financial services group is based in Singapore.
| Issuer: | DBS Bank Ltd. London Branch
|
| Guarantor: | Bayfront Covered Bonds Pte. Ltd.
|
| Amount: | £1 billion
|
| Issue: | Floating-rate covered bonds
|
| Maturity: | May 14, 2027
|
| Bookrunners: | DBS Bank Ltd., Bank of Montreal, London Branch, HSBC Bank plc, ING Bank NV, Landesbank Baden-Wurttemberg, Lloyds Bank Corporate Markets plc and National Australia Bank Ltd.
|
| Coupon: | Sonia plus 55 bps
|
| Price: | Par
|
| Call features: | Non-callable
|
| Trade date: | May 2
|
| Settlement date: | May 14
|
| Rating: | Fitch: AAA
|
| Distribution: | Regulation S
|
| ISIN: | XS2813128555
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