Singaporean website successfully places Singapore Dollar bond issuance
Bank Extends Funding Activities Across Currencies and Markets
In a strategic move, the bank, led by Head of Issuance and Securitisation Jonathan Blake, has successfully raised SGD 400 million in senior non-preferred notes. This transaction marks the bank's second visit to the Singapore Dollar (SGD) market and underscores its commitment to extending its funding activities across various currencies and markets.
The bank's strategy aims to tap into diverse investor bases and broaden its capital sources, thereby helping to diversify its funding profile. By accessing international and regional markets, the bank offers investors exposure in different currencies like the SGD, which supports stable funding costs and optimises liquidity management.
The bank's involvement in the SGD market is not new. It has a longstanding presence, having been involved in significant transactions in the past. For instance, the bank played a role as Joint Dealer Manager and Joint Bookrunner on Oxley Holdings' Exchange Offer and New Money Issuance last week. Previously, the bank also advised on Oxley Holdings' transactions and has experience in both corporate and government bond transactions in the SGD market.
Moreover, the bank has a diverse range of clients, including Oxley Holdings and the Singaporean Government. In fact, the bank advised on a Singaporean Government Sovereign green bond back in 2022, demonstrating its versatility in handling both corporate and government transactions.
Proceeds from this issuance will be used for general corporate purposes. The successful transaction reinforces the bank's standing in the SGD market, reflecting its strong position and expertise in this market.
An investor roadshow took place in December 2023, providing potential investors with an opportunity to learn more about the bank's offerings and strategy. This strategic move by the bank is typically aligned with international banks' efforts to increase resilience and capitalise on favorable market conditions globally.
[1] International Banking Strategies in the Current Market Climate (2023) [3] Global Trends in Bond Market Diversification (2023)
- The bank's strategic move to extend its funding activities across currencies and markets, as seen in its recent SGD 400 million senior non-preferred notes issuance, could be a subject of study in International Banking Strategies in the Current Market Climate (2023).
- The bank's commitment to diversifying its funding profile by accessing international and regional markets, offering investors exposure in different currencies like the SGD, aligns with the trends discussed in Global Trends in Bond Market Diversification (2023).
