DBS Group Becomes First Southeast Asian Bank to Underwrite Debt Financing in China Interbank Bond Market

DBS Group, a Singapore-based bank, has become the first Southeast Asian-headquartered bank to receive regulatory approval to underwrite debt financing instruments for non-financial companies in the China Interbank Bond market. This approval, granted by China's National Association of Financial Market Institutional Investors, will allow non-financial enterprises outside China to tap into DBS's expertise for raising funds from the world's second-largest bond market.

Significant Contribution to Panda Bonds

In 2023, DBS played a pivotal role as the joint lead underwriter for Panda bonds issued in the China Interbank Bond market, amounting to a total value of 3.1 billion Singapore dollars (US$2.3 billion). This accounted for over 10% of the S$26.2 billion worth of Panda bonds issued that year. Panda bonds refer to yuan-denominated debt issued by non-Chinese companies, governments, and organizations in China's onshore market.

A Trusted Partner for Multilateral Development Banks and Foreign Governments

DBS has been actively supporting various multilateral development banks, foreign governments, and European financial institutions in issuing Panda bonds, including inaugural issuances. Clifford Lee, the bank's Global Head of Fixed Income, highlighted DBS's commitment to facilitating these bonds.