DBS Bank, Singapore's most prolific arranger of structured property-backed deals, has just issued its fourth quasi-securitization in the domestic market this year.

The S$200 million (US$166.5 million) transaction is backed by cashflow from the leases of Century Square Shopping Centre. The originator, First Capital Corporation, sold the property to an SPC called Pemberton Ltd., which in turn issued three tranches of seven-year bonds: tranche A was S$100 million and priced at 6 and 1/16%, tranche B was S$70 million and priced at 6 and 7/8%, and tranche C was S$30 million and priced at 6 and 1/8%.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.