Singapore market a source of funds for junk bond issuers
Singapore
COMPANIES in South-east Asia are looking at Singapore as a viable alternative for high-yield bond issues in amounts that would be too small for dollar investors.
The push comes as so-called junk bonds became a predominant theme this year in the Singapore market, with a record number of small-cap and sub-investment grade companies selling debt in the Lion City, attracting investor interest by offering juicy coupons.
Data from Thomson Reuters showed that close to $5 billion of high-yield deals were done to date this year, compared with an estimated $4.4 billion and $3 billion in 2012 and 2011. Many of these deals were…
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