SINGAPORE: DBS Bank (China) Ltd, the mainland China unit of Singapore's DBS Group, plans to issue 2 billion yuan ($295 million) of onshore Tier 2 capital bonds, according to a term sheet on Tuesday.
* The bank will open bookbuilding on July 7 and settle the deal on July 9, the term sheet showed. Bookbuilding is when investors place orders before final pricing is set.
* The bonds will mature in 10 years, but DBS China can repay them after five years. Tier 2 bonds are bank debt that can absorb losses if a lender gets into financial difficulty.
* China Chengxin International Credit Rating rated DBS China AAA and the bonds AA+, the term sheet showed.
* The bonds will be eligible for Bond Connect, which allows offshore investors to trade in China's bond market.
* The price range is yet to be announced. - Reuters
