Private banks drive CCRE and Ascendas Singapore dollar bonds

Central China Real Estate offers the first double-digit yield on a bond in the Singapore dollar market, while Ascendas sells a S$300 million perpetual and Hutchison Whampoa meets Singapore investors.

Private banks drive CCRE and Ascendas Singapore dollar bonds
Borrowers are pinning hopes on Singapore's bond market as the US dollar market remains difficult

The Singapore dollar bond market was active this week with Central China Real Estate CCRE and real estate developer Ascendas raising a combined S$475 million $377 million. Though not exactly a huge amount, both deals give bankers a glimmer of hope that the Singapore dollar bond market will stay open even as a heavy pipeline looms.

Earlier this year, the lingering question was whether the Singapore dollar bond market had sufficient liquidity to absorb...

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