Mapletree Investments, a real estate firm wholly owned by Temasek Holdings, on Wednesday night closed a well-received S$600 million $477 million perpetual non-call-five, which bankers hope will help re-open the market and encourage other companies to tap.
Demand for Singapore dollar perpetuals has flagged somewhat, especially after the city-state's regulator, the Monetary Authority of Singapore MAS, warned retail investors about the risks of investing in the instrument in May. Since then, investors have turned more cautious.
“Unlike the start of the year, investors are looking more closely at credit now,” said one banker. “The days of fixed-for-life bonds are over, and for the Mapletree deal, investors...
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