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Singapore pins high hope on first infrastructure bond auction

Singapore's first-ever sale of bonds to finance infrastructure projects, slated for next week, is considered to be ideal as signs that the global recovery is stuttering increases demand for top-rated debt.
Singapore pins high hope on first infrastructure bond auction ảnh 1Marina Bay in Singapore - Illustrative image (Source: Xinhua/VNA)
Hanoi (VNA) - Singapore's first-ever sale of bonds to financeinfrastructure projects, slated for next week, is considered to be ideal as signsthat the global recovery is stuttering increases demand for top-rated debt.

The new 30-year securities will be attractive to investorsdue to increasing concerns about Chinese bonds amid the Evergrande crisis andfears for global growth given a surge in COVID-19 infections. Yields are alsoattractive, with those on Singapore's existing 30-year debt climbing abovethose on US Treasuries last week.

The Monetary Authority of Singapore (MAS) plans to announceon September 21 how much it intends to raise from the inaugural auction slated for September 28.

The central bank has already been paving the way for theissue by reducing the size of 15- and 20-year bond auctions since it announced plansfor the new infrastructure bonds in February.

The new securities are the first to be offered under thecentral bank's SGS (Infrastructure) category, as distinct from its regular SGS(Market Development) debt and its planned Green SGS (Infrastructure) that itaims to kick off next year./.
VNA
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