PSA returns to domestic bonds after reverse enquiry leads way
Singapore’s PSA Corp returned to its domestic bond market for the first time in more than a year on Wednesday, raising S$400m ($291m) in a deal driven by reverse enquiry but then opened up to other investors.
DBS was the sole arranger of the 2020 deal, a repeat of last May when it placed a S$300m issue for the company. This weeks bond priced at par with a 3.385% coupon, but had traded up to a price of around 100.7 yesterday.
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