Daily Briefing: Manulife taps Asia debt market with Singapore; Developer sales tumble 36.2%

And April’s top five bestselling projects.

Manulife Financial Corp. is tapping the Asian capital markets for the first time as it seeks to broaden its funding sources and investor base. Canada’s largest life insurer issued S$500 million ($365 million) of subordinated debt in Singapore with a 3.85 percent coupon due in 2026, the company said in a statement. Read more here.

New private home sales in Singapore, excluding executive condominiums (ECs), fell by 11.6 percent to 745 units in April 2016, compared to the 843 units sold in the previous month, according to latest data published by the Urban Redevelopment Authority on Monday (16 May). Read more here.

Property developers in Singapore sold 745 private homes, excluding executive condominiums (ECs) in April, compared to 843 units in March. This represents an 11.6 percent month-on-month decline and a 36.2 percent decline from last year. Read more here.