DBS taps the US investor base for the first time and is rewarded with a tightly priced deal (AFP)
DBS Bank closed an aggressively priced $1 billion five-year bond early yesterday morning. The Singapore lender tapped US investors for the first time, making it one of the few local borrowers aside from Temasek to target that investor base. US investors took up close to half of the deal and helped drive pricing tighter.
Bank of America Merrill Lynch, DBS and Goldman Sachs were joint bookrunners.
The deal attracted an order book...