By Christine Van Dusen
Atlanta, Sept. 7 - Singapore's DBS Bank Ltd. priced $1 billion 2 3/8% notes (Aa1/AA-/AA-) due Sept. 14, 2015 at 99.691 to yield 2.441%, or Treasuries plus 100 basis points, according to an informed market source and the issuer.
DBS, Bank of America Merrill Lynch and Barclays Capital were the bookrunners for the Regulation S transaction.
The deal priced at the rich end of talk for a spread of Treasuries plus 100 bps to 105 bps.
DBS is a financial services group. It will use the proceeds for general business purposes.
| Issuer: | DBS Bank Ltd.
|
| Amount: | $1 billion
|
| Maturity: | Sept. 14, 2015
|
| Description: | Senior notes
|
| Bookrunners: | DBS, Bank of America Merrill Lynch, Barclays Capital
|
| Coupon: | 2 3/8%
|
| Price: | 99.691
|
| Yield: | 2.441%
|
| Spread: | Treasuries plus 100 bps
|
| Trade date: | Sept. 7
|
| Settlement date: | Sept. 14
|
| Distribution: | Regulation S
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Price talk: | Treasuries plus 100 bps to 105 bps
|
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