Private banks drive CCRE and Ascendas Singapore dollar bonds

The Singapore dollar bond market was active this week with Central China Real Estate CCRE and real estate developer Ascendas raising a combined S$475 million $377 million. Though not exactly a huge amount, both deals give bankers a glimmer of hope that the Singapore dollar bond market will stay open even as a heavy pipeline looms.

Earlier this year, the lingering question was whether the Singapore dollar bond market had sufficient liquidity to absorb just a handful of deals or a whole slew of them. So far, the market has got off to a flying start with Singapore bond issuance chalking up S$7.6 billion year-to-date compared to S$4.4 billion...