Singapore debt listings Wednesday: DBS, ICTSI, Scotiabank Chile, Jinan Urban Construction

DBS ATM in SingaporeDBS ATM in Singapore

These are entities which announced debt listing confirmations in Singapore on Wednesday, 10 November 2021: Scotiabank Chile and Jinan Urban Construction International Investments.

In addition, DBS Group said it had issued covered bonds and International Container Terminal Services Inc. (ICTSI) said it had approved the terms of new notes.

DBS Group

DBS Group said Wednesday it has priced 1 billion British pounds of floating-rate covered bonds due 2025.

The covered bonds will have a floating coupon of compounded daily SONIA plus 1.0 percent per annum, payable quarterly, with the interest and principal guaranteed by Bayfront Covered Bonds, secured by a portfolio of mortgage loans BCB purchased from DBS Bank and other assets held by BCB, DBS said in a filing to SGX.

The net proceeds will be used for DBS Bank’s general business purposes, the filing said.

The sole global coordinator of the  issue is DBS Bank, and the managers are DBS Bank, HSBC Bank, National Australia Bank and RBC Europe, the filing said.

The bonds are expected to be rated AAA by Fitch Ratings and Aaa by Moody’s Investors Services, the filing said.

Jinan Urban Construction International Investments

Jinan Urban Construction International Investments said Wednesday its US$500 million 2.3 percent bonds due 2024 (ISIN code: XS2403477099) would be listed on SGX’s bond market on Thursday.

The notes, which will trade in U.S. dollars, will be in denomination of US$200,000, which is also the minimum board lot size, the entity said in a filing to SGX.

The lead managers and bookrunners of the notes are Guotai Junan Securities (Hong Kong), China International Capital Corp. Hong Kong Securities, Bank of China, CLSA, Industrial Bank’s Hong Kong branch and BOCOM International Securities, the filing said.

Jinan Urban Construction International Investments is an indirect, partly owned subsidiary of Jinan City Construction Group, which is a state-owned entity focusing on urban development and infrastructure in Jinan, China.

International Container Terminal Services Inc. (ICTSI)

International Container Terminal Services Inc. (ICTSI) said Wednesday its board of directors had approved subsidiary ICTSI Treasury’s issuance of new senior fixed-rate notes guaranteed by ICTSI.

The US$300 million senior unsecured guaranteed fixed-rate notes priced at 3.5 percent with a 10-year tenor, the company said in a filing to SGX.

The proceeds will be used for refinancing and general corporate purposes, including potentially funding a tender offer for some existing senior guaranteed perpetual capital securities issued by Royal Capital, which are guaranteed by ICTSI, the filing said.

The joint lead managers of the deal are Citigroup Global Markets and HSBC, the filing said.

Scotiabank Chile

Scotiabank Chile said Wednesday its US$125 million 2.16 percent fixed-rate notes due 2026 (ISIN code: XS2401677948) would be listed on SGX’s bond market on Thursday.

The notes, which will trade in U.S. dollars, will be in denomination of US$200,000, which is also the minimum board lot size, the company said in a filing to SGX.

The lead managers and bookrunners of the notes are Credit Agricole Corporate and Investment Bank’s Taipei branch, Taipei Fubon Commercial Bank, Standard Chartered Bank (Taiwan), Taishin International Bank, KGI Bank, Yuanta Securities and SinoPac Securities, the filing said.

Scotiabank Chile is a subsidiary of Bank of Nova Scotia. The Bank of Nova Scotia, which operates as Scotiabank, is one of Canada’s Big Five banks, offering personal, commercial, investment and private banking. Outside of Canada, the bank has operations in Latin America and Asia.

 

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