Investor demand drops sharply for third Singapore Savings Bond issue

Total applications reached just $41m.

The third issue of Singapore Savings Bond (SSB) was met with extremely lacklustre investor demand, figures from the Monetary Authority of Singapore show.

The December 1 issue garnered a total of $40.99m in applications, much lower compared to the maximum amount offered of $1.2b.

This is a far cry from the $257.33m in applications that was received for the second issue in November, and much lower compared to the $413.6m in applications that was received for the first tranche in September.

The Singapore Savings Bond programme was first launched in July. It offers individual investors a safe, long-term and flexible savings option that pays higher interest over time.