Debt Capital Markets

DBS Debt Capital Markets provides onshore financial advisory services and offshore capital-raising solutions to corporate and institutional customers in debt /structured capital markets. DBS is one of the key players in the Asian debt capital markets, having managed many significant deals for our regional clients including issuances of note, subordinated bond, convertible bond etc. In addition, we are the market leader in innovative debt structuring, including Real Estate Investment Trusts (REITs), business Trust and different kinds of securitisation project. In the past two years, we have successfully launched three remarkable REIT Initial Public Offering (IPO) deals in the region; they are GZI REIT in Hong Kong, Central Pattana Retail Growth Property Fund in Thailand and Starhill REIT in Malaysia.

Our professionalism and accomplishment in structuring REITs are widely recognised from structuring some of the most complicated deals in Asia, including GZI REIT, Suntec REIT, Fortune REIT. We also led the launch of Fortune REIT Commercial Mortgage-back securities (CMBS) - the first HKD CMBS rated by a credit rating agency in 2000. In July 2005, DBS was appointed to be the joint arranger of Mapletree REIT IPO of SGD243 million - the first logistics investment trust that adopted the REITs format in Singapore.

Equity Capital Markets

Whether you are a mid-sized or large company looking to list in Singapore or Hong Kong, you will find assurance in DBS' total and integrated approach in IPO capital-raising.

As your partner, we draw on our vast group-wide resources, including award-winning structuring expertise in equity capital markets, strong regional distribution networks and top-notch research from DBS Vickers to meet your specific needs.

DBS Equity Capital Markets is the market leader in the area of IPOs and is active in secondary market activities such as share placements, rights, issues, bonus issues and covered warrant issues.

Major issues that DBS has managed for Chinese companies in Singapore include:

• Tianjin Zhong Xin Pharmaceuticals Company IPO
• Peoples' Food Holdings IPO

DBS Asia Capital Limited, a wholly-owned subsidiary of DBS Bank, has built a track record as one of the leading IPO houses in Hong Kong. Based in Hong Kong, DBSAC provides advisory services and financial solutions to companies across North Asia. DBSAC's credentials include:

• SPG Land Holdings Limited (September 2006, Issue size: HKD1.4 billion)
• Beijing Jinkelong Company Ltd (September 2006, Issue size: HKD683 million)
• Win Hanverky Holdings Ltd (September 2006, Issue size: HKD786 million)
• GZI Real Estate Investment Trust (December 2005, Issue size: HKD1,792 million)
• Tradelink Electronic Commerce Ltd (October 2005, Issue size: HKD292 million)
• Li Ning Co Ltd (June 2004, Issue size: HKD610 million)

Our comprehensive scope of services includes:

• Programming and coordinating all activities leading to the IPO
• Conducting due diligence
• Advising on corporate restructuring
• Positioning, valuation and pricing of IPO
• Documentation
• Submission of listing application to the Stock Exchanges
• Pre- and Post-deal research coverage
• Spearheading pre-marketing activities, roadshows, press and analyst conferences, and other promotional activities
• Underwriting, placement and distribution of shares