Singapore books first corporate Lion City bond

Singapore

SINGAPORE has ushered in the first corporate "Lion City" bond, which was priced this week.

A Hong Kong subsidiary of Hainan Airlines, China's fourth-largest airline company, has issued yuan-denominated bonds in Singapore to raise 1.7 billion yuan (S$341 million). The bonds will pay a coupon of 6.25 per cent, said a press release from a joint bookrunner, ICBC.