SG debt listings Friday: DBS, Astrea 7, Shinhan Bank, Kodit, Zhongrong Intl

DBS Bank branchDBS Bank branch

These are entities which announced debt listing confirmations in Singapore on Friday, 27 May 2022: Shinhan Bank, Zhongrong International, Kodit Global 2022-1 Co., DBS Bank and Astrea 7.

In addition, Bank of Nova Scotia announced a debt listing on Thursday, 26 May 2022.

DBS Bank

DBS Bank said Friday its US$70 million 30-year first three year non-callable zero-coupon callable notes due 2052 (ISIN code: XS2309267784) would be listed on SGX’s bond market on Monday.

The notes, which will trade in U.S. dollars, will be in denomination of US$1 million, and will trade with a minimum board lot size of US$200,000, with a minimum of five lots to be traded in a single transaction, Southeast Asia’s largest bank said in a filing to SGX.

Correction: The original SGX filing from DBS misstated the denomination of the notes and the number of lots required to be traded. 

Astrea 7

Astrea 7 said Friday its S$526 million 4.125 percent class A-1 secured fixed-rate bonds due 2032 (ISIN code: SGXF50246630) would be listed on SGX’s bond market on Monday.

In addition, Astrea 7’s US$200 million 6 percent class B secured fixed-rate bonds due 2032 (ISIN code: SGXF67664494) would be listed Monday, the entity said in filings to SGX.

Astrea 7’s US$175 million 5.35 percent class A-2 secured fixed-rate bonds due 2032 (ISIN code: XS2480766158) would also be listed Monday, the filings said. The class A-2 bonds, which will trade in U.S. dollars, will be in denomination of US$50,000, with a minimum board lot size of US$200,000, the filing said.

Astrea is sponsored by Astrea Capital, which is a wholly owned subsidiary of Azalea Asset Management, which in turn is wholly owned by Singapore state-owned investment company Temasek Holdings. The Astrea Platform is a series of investment products based on private equity funds’ portfolios.

Shinhan Bank

Shinhan Bank said Friday its US$40 million 3.35 percent fixed-rate notes due 2023 (ISIN code: XS2485154905) would be listed on SGX’s bond market on Monday.

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 bank said in a filing to SGX.

South Korea-based Shinhan Bank, part of the Seoul-listed Shinhan Financial Group, has operations across Indonesia, Mexico, Vietnam, Japan, Canada, China, Kazakhstan, Cambodia, Europe and the Americas. It offers banking services including retail, personal banking, wealth management, small-to-medium enterprises, large corporates and investment banking.

Zhongrong International Bond 2022

Zhongrong International Bond 2022 said Friday its US$190 million 6.80 percent notes due 2023 (ISIN code: XS2483885955) would be listed on SGX’s bond market on Monday.

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.

Zhongrong International, the bond’s guarantor, provides equity investment, asset management and business advisory services.

Kodit Global 2022-1 Co.

Kodit Global 2022-1 Co. said Friday its US$300 million 3.619 percent guaranteed senior unsecured social bonds due 2025 (ISIN code: XS2481329733) would be listed on SGX’s bond market on Monday.

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.

Kodit is South Korea’s Credit Guarantee Agency, which provides credit guarantees to increase lending levels to and lower interest rates for small- to medium-sized enterprises (SMEs).

Bank of Nova Scotia

The Bank of Nova Scotia said Thursday its US$30 million 8.75 percent callable range accrual notes due 2032 (ISIN code: XS2482146276) would begin trading on SGX’s bond market on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$1 million, with a minimum board lot size of US$200,000, with a minimum of five lots, the bank said in a filing to SGX.

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.