Hyflux turns to private banks for domestic Singapore bond

20 Jul 2011

Singaporean water management provider Hyflux priced an oversubscribed S$100m ($82.1m) bond last week, turning to private banks to help close the deal as investors in other markets stuck to the sidelines.

The company sold more than half of the five year bond to private bank investors, whose support was key to Hyflux pricing the deal at 3.50%, its tightest ever coupon.

It is not easy to close local currency deals in Asia, according to bankers, who point to the same ...

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