28 June 2021

Allen & Gledhill advised DBS Group Holdings Ltd (“DBS Group”) on the issue of its S$15 million in principal amount of 0.60% digital notes due 2021 (“Digital Notes”) on the DBS Digital Exchange.

The Digital Notes, which are debt securities that are issued on the blockchain managed and operated by the DBS Group on the DBS Digital Exchange, is the first security token offering by the DBS Group and listed on the DBS Digital Exchange, and represents a new way of unlocking value for issuers and investors by allowing them to better diversify their debt instruments. It paves the way for other issuers and clients to utilise the infrastructure of DBS Digital Exchange to efficiently access capital markets for their funding needs and establishes a precedent for further security token offering issuances and listing.

Advising DBS Group were Allen & Gledhill Partners Margaret Chin, Fabian Tan, Jeanne Ong, Adrian Ang, Alexander Yap, Andrew Chan and Sunit Chhabra.


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