, Singapore

Fund-raising frenzy: Bonds from Singapore-based issuers surged to $24.98b in 2014

DBS leads the underwriting race.

Firms are tapping both domestic domestic and foreign bond markets in a bid to raise funds, as Primary bond offerings from Singapore-domiciled issuers reached $24.98 billion (US$19.7 billion) so far this year, up 22.6% from the first nine months of 2013.

A report released today by Thomson Reuters reveals that this is the highest first nine months period since the record level in 2012 (US$27.7 billion).

Total proceeds during the third quarter of 2014 reached US$7.9 billion, a 23.1% increase from the second quarter of 2014 and a 60.3% growth from the third quarter of 2013. 

Singaporean borrowers tapped the US-dollar bond market raising US$5.8 billion, a 47.5% increase in proceeds from the first nine months of 2013. Meanwhile, DBS Group Holdings currently leads the Singaporean-issued bonds underwriting this year, with related proceeds of US$4.3 billion from 45 new issues, and captured for 21.9% market share.
 

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