A healthy market: Fullerton adds to perp supply

The company turned its back on a Singapore IPO last year. It has now boosted its equity by turning to bond investors instead.

A healthy market: Fullerton adds to perp supply

Singapore’s Fullerton Health turned to the perpetual bond market on Thursday, becoming the latest company to adopt a structure that allows issuers to boost their equity capital and gives investors a much-needed source of yield.

The unrated, privately-held company turned to investors around four months after jettisoning a plan to list on Singapore’s stock exchange. It blamed the cancellation of that deal on “market uncertainty” but in the bond market the company got a much...

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