Citic Envirotech taps buoyant demand in fixed income market
Firm's S$240m issue of perps sees demand for S$1.4b from private banks and institutions
Singapore
BUOYANT demand continues to be seen in the fixed income market, with wastewater treatment firm Citic Envirotech being the latest to price an issue.
It is issuing S$240 million of senior perpetual securities at 3.9 per cent, at an initial credit spread of 238 basis points (2.38 percentage points), given the three-year Singapore dollar swap offer rate (SOR) at 1.52 per cent.
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