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.