John Hancock - the global insurance company - has re-entered the Singapore dollar bond market with the issuance of a S$150 million bond. The five year deal marks the second time that John Hancock has issued in Singapore dollars after the company did a similar $150 million, five year deal in July 1999. Both deals are underwritten and lead managed by Citicorp Investment Bank Singapore.
Today's deal was issued at par and carries a coupon of 4.40%. This equates to a 60 basis point bp spread over the relevant five year Singapore Government bond and a 20bp spread over the relevant swap. Compared with the most recent Singapore dollar bonds,...
