DBS : GLP joins DBS' FIX Marketplace and self-executes maiden SGD 100 million commercial paper issuance

GLP joins DBS' FIX Marketplace and self-executes maiden SGD 100 million commercial paper issuance Largest issuance that has been executed on FIX Marketplace to date

DBS appointed as the sole arranger and dealer for GLP's USD 1 billion Commercial Paper Programme

Singapore, 24 Jan 2022 - DBS announced that GLP, a global investment manager and business builder in logistics, data infrastructure, renewable energy and related technologies, has self-executed its maiden SGD 100 million six-month commercial paper issue on the bank's FIX Marketplace. This represents the largest commercial paper issuance that has been executed on the platform to date. GLP is rated BBB- by Standard & Poor's and BBB by Fitch Ratings.

The SGD 100 million six-month commercial paper issue saw strong reception comprising a diversified investor base, with some orders carried out on FIX Marketplace. The commercial paper offers investors interest of 1.40% per annum and will be used by GLP for general corporate and working capital purposes.

The inaugural issuance forms part of GLP's newly-established USD 1 billion Commercial Paper Programme, which DBS has been appointed the sole arranger and dealer for. The programme is also fully digitalised to provide greater convenience to GLP which is now able to directly engage with investors on FIX Marketplace, who in turn are able to subscribe for issuances through the digital platform.

Clifford Lee, Global Head of Fixed Income, DBS Bank, said: "We are excited to onboard a high-quality issuer such as GLP onto FIX Marketplace, and congratulate them on their first successful commercial paper issuance. This paves the way for more like-minded issuers to adopt digital means to issue commercial papers, increasing the supply of high-quality papers and providing investors with a broader array of financial instruments to invest in. The democratisation of capital markets enabled by technology will become increasingly relevant in today's digital era, and we envision digital ways of debt issuance to drive the continued growth and development of Asia's commercial paper market."

Edwin Tey, Global Treasurer of GLP, said: "We are pleased to join hands with DBS as one of the pioneer issuers on FIX Marketplace. This unique platform represents a big step towards digitalisation, democratisation and direct access to bond investments and we plan to continue exploring the issuance of USD commercial papers on the platform as part of further diversifying our funding sources to support our long-term growth objectives."

About FIX Marketplace

FIX Marketplace is an important building block for DBS in its journey to digitalise Asia's capital markets. The platform is designed to empower issuers with the ability to tap capital markets for their funding needs quicker and more cost efficiently, creating more inclusive and accessible markets for issuers. In testament to FIX Marketplace's ease of use, since its launch in June 2021, close to SGD 7 billion of issuances denominated in USD, SGD and HKD have been executed on the platform to date.

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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named "World's Best Bank" by Euromoney, "Global Bank of the Year" by The Banker and "Best Bank in the World" by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 13 consecutive years from 2009 to 2021.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.