SGD bond market proceeds fall 50.1% to $4b

The number of primary issuances fell 48.6%.

The Singapore-dollar (SGD) bond market fell to $4b, down at 50.1% in proceeds from Q2 as the number of primary issuances dropped 48.6%.

According to Thomson Reuters, this brings total SGD bond issuance to S$17b so far, which is 9.5% higher YoY.

The financials sector comprised 49.1% of the SGD bond market and proceeds rose 24.2% to $8.4b.

Real Estate contributed 16.8% to market share with $2.8b in proceeds, a 38.6% increase from over a year ago.

In August 2017, Singapore Airlines (SIA) sold its second jumbo $700m 10-year bond offering, coming after a $700m 8-year bond sold in early April.

Meanwhile, foreign issuers tapping the SGD bond market raised $4.5b thus far, almost unchanged with a minimal 1.6% increase in proceeds from the comparative period last year, but the number of primary issuances slowed down by 36.4%.