19.07.2012 - Mapletree to re-open Singapore hybrid market
Mapletree Investments is set to re-open the Singapore-dollar market for corporate hybrids with the first perpetual bond outside the banking sector in three months. Property investor Mapletree, which is 100% owned by Singapore sovereign fund Temasek Holdings, will issue unrated perpetual capital securities with a call option at the end of year five. Citigroup, DBS and HSBC are joint leads on the deal. Its move comes after a recovery in trading volumes in perpetual bonds in the last two weeks, coupled with the launch of a S$1bn (US$794m) Tier 1 hybrid from local lender OCBC Bank on July 5...............................................Full Article: Source
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