The benchmark interest rate decreases, financing costs reduce, and companies issue more bonds
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Singapore's benchmark interest rate has decreased, lowering financing costs and prompting companies to increase bond issuance. Sembcorp Ind announced that its wholly-owned subsidiary will issue SGD 300 million in fixed-rate guaranteed notes on July 2, with oversubscription nearing seven times, indicating strong demand. Frasers Cpt Tr has also issued SGD 200 million in subordinated perpetual securities under its multi-currency debt issuance program. Analysts point out that the spread on corporate bonds remains attractive, despite total yields being on par with the benchmark interest rate
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