They mainly came from Australia, China, India, Korea and ASEAN.
This chart from the Monetary Authority of Singapore (MAS) shows that Singapore's debt market saw a 168% YoY increase in first-time issuances to $27.4b in 2017 from $10.2b in 2016.
MAS identified that many of the first-time issuers are from Australia, China, India, Korea and ASEAN.
The chart also shows that first-time issuances went through a slump in 2015 as it crashed 39.38% to $9.7b from $16b in 2014.
According to MAS, first-time issuances were bolstered through the Asian Bond Grant Scheme which was launched on 1 January 2017 to encourage the issuance of bonds by Asian companies in Singapore.
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