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Wednesday, 12 October 2011

DBS upsizes MTN programme to US$15b from US$10b


DBS Bank Ltd announced on Wednesday that it has updated its US$10 billion debt programme to a US$15 billion global medium term note programme.

The local bank had prviously set up the US$10 billion debt issuance programme in June.

DBS said the net proceeds from the notes issue will be used for the general business purposes of the bank and its consolidated subsidiaries.

DBS, Bank of America Merrill Lynch, and Goldman Sachs (Singapore) Pte are the joint arrangers for the programme.

Shortly after the upsize, credit rating agency Standard & Poor's Ratings Services assigned the debt issue its A+ rating.

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