Singapore’s local bond market continues to develop, creating opportunities for its domestic investor base. In recent years, the government and state investment agency Temasek have extended the yield curve, providing long duration alternatives for insurance companies and pension funds, and setting benchmarks for corporate issuance.
Late on Wednesday, Keppel Corporation, a conglomerate with interests that range across marine services, property, infrastructure and investment services, broke new ground by launching a S$300 million $240 million 30-year bond.
The senior unsecured notes pay a 4% semi-annual coupon and were re-offered at par. The final redemption date is September 7, 2042, but Keppel has the option to call the issue...
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