The $5bn update seen to boost the program whose preceeds will be used to fund the bank’s general business.
DBS Group Holdings Ltd. said Tuesday it has expanded the size of a debt issuance program to US$15 billion from US$10 billion.
In a statement, the bank--Southeast Asia's largest lender by assets--said it has updated its US$10 billion debt issuance program into a US$15 billion global medium-term note program, through which it may issue bonds to certain non-U.S. investors and "qualified institutional buyers" in the U.S.
Net proceeds will be used to fund general business purposes of the bank and its subsidiaries, it added, according to a report in Fox Business.
DBS, Bank of America Merrill Lynch, and Goldman Sachs are the joint arrangers and dealers for the program.
Do you know more about this story? Contact us anonymously through this link.