Check out why Singapore's bond issuance hits record high

Bond offerings rose a whopping 116.4%.

According to Thomson Reuters, primary bond offerings from Singapore-domiciled issuers witnessed a record volume of US$26.9 billion, as local companies tap both domestic and foreign bond markets to raise funds, up 116.4% from the first nine months of 2011.

Here's more from Thomson Reuters:

Total bond proceeds during the third quarter of 2012 totaled US$12.2 billion, a 140.5% increase from the second quarter of 2012 (US$5.1 billion) and a 214.5% growth over third quarter of 2011, making it the highest quarterly volume on record.

Total offshore bonds issuance grew 326.1% during the first nine months of 2012 compared to the same period last year as proceeds reached US$14.9 billion – the highest year-to-date level in terms of value for Singapore international bond offerings.

DBS topped the Singaporean-issued bonds underwriting this year, with related proceeds of US$6.2 billion from 43 new issues, up 117% from the comparative period last year.

According to estimates from Thomson Reuters/ Freeman Consulting Co., DBS booked US$19.4 million in fee revenues, or 19.7% of Singapore’s bond fee pool. Underwriting fees from Singaporean bond issuance grew 175.2% to US$98.7 million this year over the same period in 2011. 

Driven by bond issuance from banks, total proceeds from the Financials sector grew 176.6% to US$14.3 billion from the first nine months of 2011. Financials (US$14.3 billion) captured 53.2% of the total proceeds raised by Singaporean borrowers, where OCBC Bank (excluding issuance from subsidiaries) accounted for 10.8% of the sector’s market share.

Meanwhile, corporate issuance (excluding Financials) raised total proceeds worth US$9.8 billion, up 117.8% from the same period last year, or 36% of the market share