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SIA’s mandatory convertible bonds worth a look now as yield rises, recovery takes off

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Tay Peck Gek

Tay Peck Gek

Published Tue, May 24, 2022 · 05:50 AM
    • Singapore Airlines is expected by analysts to turn in a profit FY2023
    • Singapore Airlines is expected by analysts to turn in a profit FY2023 EPA-EFE

    MANDATORY convertible bonds (MCBs) sold by Singapore Airlines (SIA) over the last 2 years could offer an interesting investing opportunity amid growing optimism that the carrier is firmly on a recovery track.

    On Monday (May 23), the MCBs issued in 2020 were trading marginally below par, at S$0.990. The 2021 tranche of MCBs was trading at S$0.958.

    The zero-coupon MCBs worth S$9.7 billion in total issue value with maturity in 2030 were liquidity lifelines for the mainboard-listed airline when it was pummelled by the pandemic and navigating the toughest year in its history in 2020.

    Hock Lock SiewSingapore AirlinesBonds

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