Singapore Power launches benchmark 12-year bond

Singapore Power set a benchmark for the local market on Thursday with the first ever 12-year corporate bond from the Lion City.

Singapores soon-to-be-privatized Singapore Power SP, yesterday Thursday launched the first ever 12-year corporate bond to be issued in Singapore dollars via joint lead managers JPMorgan and OCBC Bank.

The S$300 million $166 million issue marked the companys first visit to the local debt market this year and the first since it launched a debut S$300 million domestic seven-year offering last August.

SP will use the money to repay existing debt ahead of an...

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