General Announcement::ISSUE OF SORA-REFERENCED NOTES BY DBS BANK LTD.
Issuer & Securities
DBS GROUP HOLDINGS LTD
DBS GROUP HOLDINGS LTD - SG1L01001701 - D05
Date &Time of Broadcast
Announcement Sub Title
ISSUE OF SORA-REFERENCED NOTES BY DBS BANK LTD.
Submitted By (Co./ Ind. Name)
Description (Please provide a detailed description of the event in the box below)
DBS Bank Ltd. has successfully priced the issue of SGD 20 million floating rate notes due 2021 (the "Notes") under its USD 30 billion Global Medium Term Note Programme. This is the industry's first note priced with Singapore Overnight Rate Average ("SORA") as the reference rate for the calculation of interest.
The Notes will bear a coupon rate of Compounded Daily SORA + 0.65% per annum, payable quarterly in arrear, with Compounded Daily SORA calculated using a five-business day look-back observation period. The Notes are expected to be issued on 14 May 2020.
Please see attached for more details.
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