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New Bond Issues
DBS $ 3Y/3Y FRN/5Y at T+70bp/SOFR eq./T+80bp area
Laos raised $500mn via a 5.5Y bond at a yield of 9.625%. The senior unsecured note is rated CCC+/CCC+ (S&P/Fitch). Proceeds will be used to repay costs and expenses related to the issuance of the notes, for repayment of the existing government debt, including commercial and bilateral obligations, and for general governmental purposes.
Deutsche Bank raised £500mn via a short 6NC5 green bond at a yield of 6.138%, 20bp inside initial guidance of UKT+135bp area. The senior non-preferred bond is rated Baa1/BBB/A-. Proceeds will be used to refinance green assets in accordance with the issuer’s Sustainable Instruments framework.
UOL Treasury raised S$200mn at a yield of 3.2%. Issuer is UOL Treasury Services Pte Ltd (UOLSP) and UOL Group Ltd. is the guarantor. Proceeds will be used for general corporate purposes of the guarantor and its subsidiaries including refinancing of existing borrowings and financing of working capital and capital expenditures.