Singapore's DBS Bank, through its Australian Branch, will self-lead its inaugural Australian dollar denominated three-year senior unsecured benchmark issue - a term normally taken to indicate at least A$500 million. DBS has also mandated teams at all four major domestic banks as its joint lead managers for the deal. One banker on the transaction indicated initial price guidance in the 70 basis points over three-month BBSW area. Timing for the transaction was expected to be this week, with the boilerplate "subject to market conditions" caveat. Pepper Group Limited has refinanced a US$170 million non-conforming RMBS issue, an issue that initially priced in March 2016. This bond was originally issued as a 12 month bullet denominated in US dollars. As required by the original transaction, the tranche has now been repaid and subsequently reissued as a second 12 month bullet in US Dollars. The note priced at 65 basis points over one-month Libor, which is eight basis points tighter than the original note issued 12 months ago. National Australia Bank's venture capital fund, NAB Ventures, has led an investment round in San Francisco-based foreign exchange payments company Veem, which uses blockchain technology for cross-border business to business payments. The company's platform allows organisations to send and receive payments in local currency. NAB Ventures general partner Melissa Widner led the series B funding round, totalling US$24 million, alongside GV (formerly Google Ventures), American VC firm Kleiner Perkins Caufield & Byers, Silicon Valley Bank and Japanese fund SBI Investment Co. Ltd. Shareholders in Papua New Guinea's biggest bank, Bank of South Pacific Ltd, are seeking to sell about a $300 million stake as part of a planned listing on the ASX-boards, the AFR's Street Talk reports. In meetings this week, Australian fund managers were told Bank of South Pacific trades at six-to-seven times forecast earnings and will offer a yield in the order of 12 per cent. It's understood the float has been pitched as a play for greater liquidity. Bank of South Pacific's biggest competitors include ANZ Banking Group PNG, Westpac Bank PNG and Maybank PNG.