By Scott Murdoch and Yantoultra Ngui

SYDNEY Singapore's DBS Group has raised $1.5 bln in two U.S. dollar bond tranches, according to a term sheet reviewed by Reuters.

The bank issued a two-year fixed rate bond that raised $750 million and a two-year floating rate note that raised the same amount, the term sheet said.

The coupon on the fixed rate note was set at 5.479% while the floating rate note was priced at the Secured Overnight Financing Rate (SOFR) plus 61 basis points.

DBS did not comment on the deal but confirmed the transaction in a term sheet sent to Reuters.

Investors subscribed for more than $2.65 billion of the two- year fixed rate bond, the term sheet showed. The floating rate note attracted over $2 billion in orders from investors.

U.S. and Asia-based investors bought nearly 90% of the fixed bond and accounted for 98% of the floating note, the term sheet showed.

DBS has flagged that the proceeds from the bonds would be used for its finance and treasury activities.

(Reporting by Scott Murdoch in Sydney; Editing by Jacqueline Wong and Muralikumar Anantharaman)