Is the Singapore-dollar bond market getting frothy?
Stick to strong credits, resist leveraging temptation as one thinks about how long the party can last
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LAST week's sterling reception given to HSBC's debut in the local bond market was yet another sign of the liquidity splashing around.
To recap, yield-hungry private- bank and instituitional investors pushed the order books to above S$7 billion for HSBC's maiden S$1 billion 4.7 per cent perpetual issue.
At S$1 billion, it is the largest Singapore dollar (SGD) bond transaction from a corporate or financial institution since 2012.
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