Top trio act on $750m notes issue

The deal is a Singapore-based bank's first issue of regulatory capital notes into the Australian market

Top trio act on $750m notes issue

A trio of top firms were involved in a Singapore-based bank's recent capital notes offer in Australia.

King & Wood Mallesons (KWM) as well as top Singapore law firm Allen & Gledhill advised DBS on its issue of $750m floating-rate subordinated notes due 2028.

Baker McKenzie advised DBS, the National Australia Bank, Westpac, and the Commonwealth Bank of Australia as joint lead managers. The issue is under the bank’s global medium-term notes program valued at US$30bn.

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“This was DBS's first issue of regulatory capital notes into the Australian market,” said partner Duncan McGrath.

McGrath led the Baker McKenzie team on the deal. He was assisted by associates Andrew Slucky and Emily Hunter, and lawyer Daniella Lambert.

Recently, the firm acted in the $150m capital raise of Clean TeQ Holdings for its Sunrise Project in New South Wales.

 

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