Capital Markets, Research & Consultancy, Singapore - Monday, December 21, 2009 14:30 - 0 Comments

IFR Asia: Southeast Asia debt capital markets guide – Singapore

IFR Asia Southeast Asia DCM report – Singapore

December 2009

Singapore wants its local currency debt capital market to be one of its many foundations as a regional financial centre. It’s doing fine, but it might be a surprise to learn that it’s not even southeast Asia’s most prolific corporate bond market – more was raised in ringgit in 2009 than in Singapore dollars, according to ThomsonReuters data.

“The primary market got off to a rocky start at the beginning of the year, mainly driven by a lot of caution,” says Clifford Lee, managing director and head of fixed income at DBS. “Funding was done for refinancing rather than added leverage and the general tone has been more defensive than anything else.” Continue…

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