Ascendas, Lum Chang join peers in issuing bonds

Singapore

AS THE Federal Reserve holds off raising interest rates, Ascendas and Lum Chang joined their peers in the property and construction space in issuing bonds.

Construction player Lum Chang issued a shorter-term bond of three years at 5.5 per cent per annum, to raise some S$50 million.

The issue's relatively smaller size - and it being priced right in line with initial guidance - suggested modest demand, said Terence Lin, assi…