by Legal Desire

20 July 2020

Linklaters advises on landmark 30-year subordinated bond issue by NTUC Income and the related establishment of NTUC’s S$2bn EMTN Programme

Debt Capital Markets Insurance Completed Singapore

Advising firms

Underwriters acting for DBS Bank Ltd. and Standard Chartered Bank

Underwriters acting for DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited's Singapore branch and Standard Chartered Bank (Singapore) Limited, and Morgan Stanley Asia (Singapore) Pte.

Deal team

3 lawyers named

Lawyer	Firm	Seniority	Practice	Office
Jonathan Horan Lead	Linklaters	Partner	capital markets	Singapore
Phill Hall	Linklaters	Counsel	Not stated	Not stated
Samuel Lee	Linklaters	Associate	Not stated	Not stated

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Stated terms

Stated value: SGD 800m (S$800m)
What the figure measures: Issue size
Client: DBS Bank Ltd. and Standard Chartered BankUnderwriters
Counterparties: NTUC Income Insurance Co-operative Limited (Issuer)