DBS to securitise its loan portfolio

Singapore-based investors report that DBS and JPMorgan have been sounding out the market on a S$300 million ($165 million) offering securitizing a portion of the bank's corporate loan portfolio. Should it materialise, the transaction will not only mark a new step in the development of the Singapore ABS market, but also for Asia as a whole, since synthetic CLO's (collateralized loan obligations) have only ever previously been used in Japan.