Chart of the Day: Take a look at a 9-month high in Singapore’s bond offerings

There’s an 18.3% increase in new issues.

Data from Thomson Reuters shows that primary bond offerings from Singapore-domiciled issuers reached US$19.7 billion so far this year, up 22.6% from the first nine months of 2013 with an 18.3% increase in number of new issues, as local companies actively tap both domestic and foreign bond markets to raise funds. This is the highest first nine months period since the record level in 2012 (US$27.7 billion).

Thomson Reuters adds that total proceeds during the third quarter of 2014 reached US$7.9 billion, a 23.1% increase from the second quarter of 2014 and a 60.3% growth from the third quarter of 2013. Singaporean borrowers tapped the US dollar bond market raising US$5.8 billion, a 47.5% increase in proceeds from the first nine months of 2013.

Here’s more from Thomson Reuters: 

DBS Group Holdings currently leads the Singaporean-issued bonds underwriting this year, with related proceeds of US$4.3 billion from 45 new issues, and captured for 21.9% market share. 

According to estimates from Thomson Reuters/Freeman Consulting Co., DBS Group Holdings booked an estimated US$15.0 million in fee revenues, a 5.9% increase from the comparable period last year, and accounted for 26.4% of Singapore’s bond fee pool. Imputed underwriting fees from bond issuance by Singaporean companies dropped 36.2% to US$56.6 million from the same period in 2013.