Religare trust sells S$60m bonds; small deals dominate July's issues

Singapore

ANOTHER day, another Singapore dollar (SGD) bond sold as investors' appetite for local debt issued by small companies remains strong. This even as the currency continues to slide following weak second-quarter growth numbers.

Bankers say the demand for such sales is measured and that investors hold their assets in SGD, and so the currency weakness is less of an issue. One cautioned that the secondary market for bond issues of under S$100 million is likely illiquid.

Religare Health Trust on Wednesday sold S$60 million three-year bonds at 4.5 per cent, said DBS Bank. The Religare deal followed two issues done on Tues…