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
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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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