Daily Briefing: Population growth fuels property upswing; Temasek unit's retail PE bond is 7.4 times oversubscribed

And Sea Ltd. is planning to issue $400m of convertible senior notes due 2023.

From icompareloan:

The current property market upswing has encouraged buyers and investors to re-enter the Singapore property market in anticipation of higher future property prices. 

“At our assumed population range of 6.3m-6.5m by 2030, we project annual demand for primary homes will come in at 13k-16k till 2023, before tapering off to an average of 12k-13.5k units. These forecasts are above the historical average of 12k units transacted over 2001-2017," DBS Insights said in a report.

Read more here.

From Deal Street Asia:

Astrea IV Pte’s S$121m (US$90.5m) Class A-1 bond offering for retail investors was oversubscribed 7.4 times, receiving about $890m in valid applications. These are the first retail bonds backed by cash flow from private equity investments.

Astrea IV is a subsidiary of Azalea Asset Management, which is in turn a Temasek Holdings subsidiary.

Read more here. 

From Deal Street Asia:

Singapore-based gaming and e-commerce company Sea Ltd said it is planning to issue $400m worth of convertible senior notes due 2023 which will be used for business expansion and other general corporate purposes.

One of Sea's principal shareholders, Tencent Holdings, is expected to buy up to $50m principal amount of notes in the offering, the company said in a statement.  

Read more here.