Singapore bonds continue good run
Issue of S$150m perpetuals by Tata International draws demand for S$1b; bankers say local currency slide not deterring investors flush with liquidity
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Singapore
SINGAPORE bonds continue to outperform despite the official end of QE3 last week with investors betting that interest rates will remain low for sometime. Even the slide in the Singapore dollar has not dampened interest as local investors are flushed with liquidity, say bankers.
In fact, on Thursday, one day after the US Federal Reserve said that its bond buying programme had ended, the sale of S$150 million of Tata International perpetualsmet with somuch demand - S$1 billion - that the coupon was scaled back to 6.65 per cent from initial 7 per cent guidance.
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