Singapore bonds issuance hits record high in 4Q12

Proceeds up 49.7% YoY.

According to Thomson Reuters, primary bond offerings from Singapore-domiciled issuers witnessed a record volume of US$31.1 billion, as local companies tap both domestic and foreign bond markets to raise funds, soaring 108% higher than last year. Total bond proceeds during the fourth quarter of 2012 totaled US$3.8 billion, a 69.8% drop coming off from a record- high during the third quarter of 2012 (US$12.6 billion), but saw a 49.7% growth from fourth quarter of 2011. 

Here's more from Thomson Reuters:

Singaporean borrowers that tapped the US-dollar bond market raised US$10.8 billion in proceeds this year, a three-fold increase compared to the previous year, making it the best annual period ever in terms of value and number of new issues.

DBS topped the Singaporean-issued bonds underwriting this year, with related proceeds of US$6.4 billion from 47 new issues, up 75% from the previous year. According to estimates from Thomson Reuters/ Freeman Consulting Co., DBS booked an estimated US$19.3 million in fee revenues, a 41.5% increase from last year, and accounted for 19.8% of Singapore’s bond fee pool. Underwriting fees from bond issuance by Singaporean companies grew 87% to US$97.3 billion over the same period in 2011.

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