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DBS Bank (China) to issue RMB 500 mln in bonds

May. 2, 2012 (China Knowledge) - DBS Bank (China) Ltd has announced that it plans to issue up to RMB 500 million worth of bonds with a maturity of three years on the interbank market from May 4 to May 7.

The company said in a statement that the bonds will be issued at face value and coupon rate will be determined in the process of book-building.
China Chengxin International Credit Rating Co Ltd has rated the issuer and bonds AAA and AAA, respectively.

CITIC Securities Co<600030><6030>, China's largest securities firm by market value, has been hired as lead underwriter for the offering.

Proceeds from the deal will be used to expand the company's China business and to support loans for small- and medium-sized enterprises.

DBS Group Holdings Ltd, the parent company of DBS Bank (China), said earlier that it plans to invest RMB 2.3 billion in the China subsidiary, according to an earlier report from China Knowledge.

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