SembCorp closes first Singapore dollar perpetual since May

Perpetuals have fallen out of favour but SembCorp Industries closes a S$200 million deal, benefiting from its Temasek links

SembCorp Industries closed a S$200 million $157 million perpetual bond on Tuesday evening, the first Singapore dollar perpetual in three months.

Investor appetite for perpetuals, or bonds with no maturity, has waned amid rising rates. While the city state was once a hotbed of activity for perpetuals,  which were sought after by private banks seeking yield, things have changed. The last Singapore dollar perpetual was sold by property developer GuocoLand...

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