Primary bond offerings from Singapore up 3.8% to $9.9b

This brings total bonds to $28.8b YTD.

Primary bond offerings from Singapore issuers hiked by 3.8% YoY to $9.9b (US$7.3b) YTD.

According to Thomson Reuters, this brings total Singapore-issued bond offerings so far this year to $28.8b (US$21.3b), down 9.6% YoY. Local companies tapped both domestic and offshore bond markets to raise funds.

Perpetual bonds from Singaporean companies increased 9.6% YoY to $3.2b (US$2.4b) to date, as the number of perpetual bonds more than doubled.

UOB's dual-currency covered bond raising $1.4b (US$1.02b) is the biggest Singapore bond issuance so far for 2017.

Meanwhile, DBS is currently the most active issuer in terms of bond proceeds, bagging 18.9% market share worth $5.4b (US$4b).

DBS also successfully priced its debut US$500m floating rate green bond due 2022 as part of its US$30b Global Medium Term Note Programme.

Here's more from Thomson Reuters:

DBS Group Holdings currently leads the Singapore-issued bonds underwriting this year with related proceeds of US$4.2 billion, and accounts for 19.8% of the market share.

HSBC Holdings and Oversea-Chinese Banking Corporation (OCBC) rounded out the top three with 9.1% and 8.8% market share, respectively.

According to Thomson Reuters, DBS Group booked an estimated US$21.3 million in fee revenues and accounted for 24.4% of Singapore’s bond fee pool. Underwriting fees from Singapore bond issuance totaled US$87.1 million, down 22.7% from the first nine months of 2016.