Deutsche Bank has bolstered its Singapore footprint and expanded its investor base by effectively raising SGD$400m ($296m) in senior non-preferred notes.
After its initial offering in September 2022 and investor roadshow in December 2023, this marks Deutsche Bank’s second trip to the SGD market.
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The money raised from this sale will be put toward basic business needs.
Jonathan Blake, Deutsche Bank’s head of issuance and securitisation, said: “This successful transaction reinforces Deutsche Bank’s standing in the Singapore Dollar market and is a clear illustration of the bank’s strategy to extend its funding activities across different currencies and markets.”
The deal generated considerable demand from investors in Asia Pacific and outside, and the bank took advantage of the favourable market conditions to execute it.
Fiona Ip, Deutsche Bank’s APAC Treasurer added: ‘‘Importantly, this issuance also represents the attractiveness of the Singapore dollar bond market, following strong recent deal flow and investor interest.’’
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By GlobalDataIn addition to serving as joint bookrunner and dealer manager for Oxley Holdings’ exchange offer and new money issuance last week, Deutsche Bank has a lengthy history in the SGD bond market.
The bank provided advice on the initial Sovereign green bond issued by the Singaporean government in 2022.
Moreover, in February, Deutsche Bank announced the first details in covering UHNW clients in its private bank in Germany.
As part of the reorganisation of the private bank, Deutsche has combined wealth management and private banking under the leadership of Lars Stoy in October 2023.
Deutsche will serve its UHNW clients in Germany regionally and allow them access to the bank’s full range of service.
Michael Kremzow will lead the relationship manager team in the North and West regions of Germany and Stefanie Rühl-Hoffmann will temporarily head the South-East region.
