Tag: dbs

Clients to drive George Nast’s work as global head of product management at Standard Chartered. DBS continues to boost its ranking among the competition by appointing Tom McCabe as global transaction services head. Clifford Lee, head of fixed income at DBS, explains why Temasek's S$1 billion sale of Singapore dollar-denominated 10-year bonds will help the market attract more high-grade ... Temasek executes its second local currency bond deal for the year with a dual-tranche S$1 billion issue off its global medium-term note programme. The Singapore dollar-denominated transaction is well received by insurance companies in particular, despite pricing at a tight spread. The Singapore-based low-cost airline is seeking to raise up to $195 million which will be partly used to pay for the acquisition of 50 new aircraft. OCBC’s year-old Ubi industrial estate branch focuses on the smaller businesses in Singapore – and is a success story as a result. With yet another deal over $1 billion, Singapore remains the most active market for rights issues in Asia this year. DBS Group appoints veteran Citi banker Piyush Gupta, 49, as chief executive officer. Singapore-listed Fortune Reit will add three more shopping centres to its portfolio of Hong Kong retail properties at a total cost of $270 million. Starhill Global Reit receives applications for 129.3% of the rights units available in the offering. The latest placement brings the total raised by A-Reit this year to $485 million. Starhill Global Reit, which is controlled by Malaysia's YTL Corp, is seeking to raise $232 million from a one-for-one rights offering, following the fund-raising examples set ... Another Temasek-investee company sets out to raise capital through a rights issue, which helps to keep Singapore at the top of the rights issuance league table. The rights issue receives applications worth more than 214.5% of the offering size. Temasek takes up its 39.7% entitlement, but CapitaLand completes the deal without calling on underwriters. Meanwhile, Shinhan sets the price for its rights issue at a 25% discount. Shares in the container manufacturer plummet on the news despite arrangements whereby the controlling shareholder is underwriting most of the issue. CapitaLand seeks S$1.84 billion, while CapitaMall Trust targets S$1.23 billion. Sylvia Wong joins from DBS Bank, while Goh Joon Hwa comes across from Societe Generale. Following Richard Stanley’s departure for DBS earlier this year, Citi fills the high-profile position with a veteran of the bank.