Singapore corporates' USD bonds warmly received by international investors

Singapore

SINGAPORE corporates are hot, going by the strong demand from international investors for their US dollar-denominated bond deals.

On Tuesday, two benchmark USD issues from - SP Powerassets and Stats ChipPac - sold well; this was followed by Thursday's Citic Envirotech Ltd (CEL) USD perpetual deal which closed early at 12.45 pm after orders hit US$950 million, exceeding the issue size more than five times.

"It's to prevent allocation nightmare," said Clifford Lee, DBS Bank head of fixed income of the 12.…