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More perp deals hit the Singapore markets as interest rates remain low
Add BT as a preferred sourcePublished Wed, Jun 14, 2017 · 09:50 PM
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Singapore
A FLURRY of perpetual deals continue to hit the market as investors remain keen amid low interest rates.
On Wednesday, Sembcorp Industries sold S$200 million NC3 perpetuals; this followed Lippo Malls Indonesia Retail Trust's S$120 million NC5.5 6.6 per cent issue on Monday. NC3 or NC5.5 means the issuer won't call or redeem the perpetuals before year three or year 5.5. Perpetuals are a hybrid security with no fixed maturity.
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