CUSTODY & CLEARING | Staff Reporter, Singapore

Singapore bond issuance crashed 31.3% to US$21.5b

But proceeds jumped 14.1%.

According to Thomson Reuters, primary bond offerings from Singapore-domiciled issuers reached US$21.5 billion so far this year, a 31.3% decline after witnessing an annual record period in 2012, as local companies tap both domestic and foreign bond markets to raise funds. 

Total proceeds during the fourth quarter of 2013 improved as proceeds grew 14.1% compared to the third quarter of 2013 (US$4.8 billion), and rose 43.6% from the fourth quarter of 2012 (US$3.8 billion).

Here's more from Thomson Reuters:

Singaporean borrowers tapped the US-dollar bond market with at least 12 new issues worth US$4.5 billion in proceeds, a 59.5% decline from the annual period last year.

DBS Group Holdings continued to lead the Singaporean-issued bonds underwriting this year, with related proceeds of US$4.0 billion from 48 new issues, down 38.4% from the comparative period last year. DBS captured 18.5% of the market share followed by HSBC Holdings with 11.4%.

According to estimates from Thomson Reuters / Freeman Consulting Co., DBS Group Holdings booked an estimated US$16.2 million in imputed fee revenues, a 15.3% decline from the annual period last year, and accounted for 15.2% of Singapore’s imputed bond fee pool. Underwriting fees from bond issuance by Singaporean companies grew 11.0% to US$106.9 million compared to the same period last year. 

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