Post-deal insights: DBS opens new angle for Kangaroo covered bonds

The first Asian bank to issue a covered bond in the Kangaroo market says it sees Australian dollars as one of three currencies on which it will focus covered-bond issuance going forward. DBS Bank (DBS) has a strong deposit-funding base and consequently a limited call on wholesale markets, but it says Australian issuance is a logical component of its programme and expects more to come in both covered and senior-unsecured format.