Oilfield bonds are worst performers this year as fuel crashed 30% since June
Firms such as Swiber and Ezra Holdings are in the red.
Singapore’s affluent market snapped up 86% of the 20 highest-yielding local notes issued this year, but they might regret investing in the oil sector as fuel crashed more than 30% since June.
According to Bloomberg, Swiber and Ezra Holdings are scheduled to repay $720m of notes within the next two years, or three-quarters of the borrowers’ market value, after funding expansion that helped make oil products Singapore’s biggest export industry.
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