PSA embarks on first international roadshows

A new benchmark issuer has emerged from Singapore, as government-owned PSA Corp attempts to lengthen the maturity and investor profile of the Lion city in the international bond markets.

The Port of Singapore Authority PSA Corp is to kick off roadshows in Asia next Friday July14 in a bid to launch Singapore's largest international bond offering to date.

The soon-to-be privatised group is planning to raise up to $1 billion from what is likely be a 10 year transaction led by joint bookrunners JP Morgan and Morgan Stanley Dean Witter. In doing so, it will join a select but fast growing group of domestic entities that are being encouraged to tap the international dollar bond markets by the government.

The move forms part of a drive to make Singapore the region's premier financial centre and mirrors a push to further...

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