04 Oct 2016

Diners Club (Singapore) Private Limited - Credit Card Receivables Securitisation Programme

Partners Abdul Jabbar and Lee Xin Mei and Associate Farrica Koh acted as Singapore counsel to DBS Bank Ltd. and United Overseas Bank Limited in respect of the credit card receivables securitisation programme originated by Diners Club (Singapore) Private Limited.

This is the renewal of a multi-tranche asset-backed securitisation programme originated by Diners Club (Singapore) Private Limited pursuant to which it will sell on an ongoing basis credit card receivables to an approved special purpose vehicle (as approved by the Monetary Authority of Singapore) which has issued qualifying debt securities to investors, certain tranches of which are rated by Fitch Ratings.