Epic Research : Singapore Exchange

Singapore Exchange (SGX) today welcomed the first Chinese Bank’s renminbi (RMB) bond to be listed and cleared in Singapore. The RMB bond is issued by Industrial and Commercial Bank of China’s (ICBC) Singapore branch. The bond issue is settled and cleared in RMB via SGX’s Central Depository (CDP).

The bond issue is for 2 billion RMB (S$ 408 million) at 3.2% on a 2-year tenor, maturing on 28 November 2015. According to the book runners, Singapore investors took up 55% of the bond issue and the bonds are well distributed to more than 120 accounts
 
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