DBS Group Holdings Ltd.’s US$1 billion ($1.35 billion) of bonds, the biggest dollar issue in three years by Southeast Asia’s largest lender, rose in their first day of trading.

The 2.375% notes, which mature in September 2015, rose to 102 cents on the dollar from their sale price of 99.691 cents as of 9:30 a.m. in Singapore, according to DBS Bank prices.

 

DBS’s banking unit sold the notes under its US$10 billion debt issuance program, established in June, according to a Singapore stock exchange statement. Proceeds will be used for general business purposes, the statement said.

 

DBS Bank, Bank of America Corp. and Barclays Plc managed the sale, which received orders of more than US$3.5 billion from more than 230 accounts, a person familiar with the matter said.

 

The lender sold US$1.5 billion of floating-rate 10-year notes in May 2007, according to data compiled by Bloomberg.