SMRT follows SIA with first bond sale

Even at this stage in the year, demand for paper from quality Singaporean issuers remains high as S$500 million deal is oversubscribed.

SMRT Corp, the 62% government-owned operator of the Singapore Mass Rapid Transport system, has tapped the local bond market for the first time with a S$500 million $271.5 million issue. DBS and Standard Chartered acted as joint lead managers on the transaction.

The deal follows hot on the heals of the S$800 million debut offering from Singapore Airlines SIA earlier this month, jointly handled by HSBC and OCBC. Another S$100 will be added in December on top of the...

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