Singapore

PERPETUAL bonds have become arguably the hottest asset class in Singapore as investors continue with their relentless search for yield. On Monday, Keppel Reit sold S$150 million perpetual bonds, the second such sale of bonds with no fixed maturity this month.

That brings total proceeds raised so far this year from perpetuals to S$2.5 billion from six deals, almost 40 per cent more than the S$1.825 billion from eight issues in 2014.