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Share of perps in bond issues hits 6-year low as demand, yields dip

Pandemic has crimped growth outlook for many Singapore firms; cheaper funding widely available; investors also wary of defaults

DBS Bank's Mr Lee says high-yield issuance has fallen and the market is dominated by investment-grade issuances.


PERPETUAL bond (perp) issuances have fallen to a six-year low as a percentage of total bond issuances in the Singapore market, making up just 10 per cent of the total market share year to date compared to close to 30 per cent in 2019.

Over the last decade, perp issuances...

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