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Corporate debt issuances rise 38 per cent in 2013

Published on Jul 25, 2014 5:11 PM
 
The Monetary Authority of Singapore stands in Singapore on Wednesday, April 29, 2009. Companies took advantage of continued low interest rates last year to issue more debt, the Monetary Authority of Singapore said yesterday. -- PHOTO: BLOOMBERG

SINGAPORE - Companies took advantage of continued low interest rates last year to issue more debt, the Monetary Authority of Singapore said yesterday.

The outstanding volume of Singapore corporate debt expanded 18 per cent to reach $272.4 billion at the end of last year.

New debt issuance increased by 38 per cent to $185.5 billion, driven mainly by an 82 per cent increase in short-term debt issuances - those with tenors of less than a year.

Long-term debt issuances, with tenors of over a year, declined 15 per cent, as many issuers in Singapore had already front-loaded their long-term funding needs in 2012 to lock in low borrowing costs, the MAS said.

 
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