
Singapore junk bonds' weakness persists as another firm seeks debt restructuring
Singapore-dollar notes slid 1.9% in 3Q.
Singapore’s junk-bond market is suffering its worst rout in at least four years as debt restructurings spread among shipping and oil-and-gas service companies.
High-yield notes in the local currency from borrowers in Singapore slid 1.9 percent last quarter, the most in an IHS Markit Ltd. index going back to 2012. Rig and vessel chartering group Swissco Holdings Ltd. added to the list of firms seeking to reorganize debt Tuesday. It appointed Ernst & Young Solutions LLP to assist in the refinancing and restructuring of S$100 million ($73 million) of notes maturing in 2018, according to an exchange filing.
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