DBS prices first SORA-based floating rate notes

The notes have a notional amount of $14m (S$20m).

DBS has priced the first Singapore Overnight Rate Average (SORA)-referenced floating rate notes under its $30b (S$42.5b) Global Medium-Term Note Programme, according to a news release.

The issuance supports the Association of Banks in Singapore and the Singapore Foreign Exchange Market Committee (ABS-SFEMC) roadmap for the development of SORA-based markets.

The notes have a notional amount of $14m (S$20m) and a tenor of one year. It 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.

It will be issued on 14 May and the net proceeds will be used for general business purposes.

SORA is a transaction-based interest rate benchmark underpinned by the SGD overnight interbank funding market and has been published by the Monetary Authority of Singapore since July 2005.

Also Read

OCBC Ignite aims to double poly graduate intake

Singapore’s big banks aim for 96% emissions cut by 2050

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia