Debt capital markets activity drops 28% YoY in 9M23
Singapore also marked its lowest first nine-month total since 2015.
Singapore’s debt capital market activity in the first nine months of 2023 totalled US$16.7b, translating to a 28% YoY decline.
Data from Refinitiv showed that Singapore brought 42 new offerings to the market, which is lower than 9M22 when it brought 68 offerings.
Amongst sectors, Financials accounted for the majority of the proceeds (64%), raising US$10.7b.
Behind Financials is the Government and Agencies sector, which raised US$3.6b, accounting for 22% of the market share.
According to Refinitiv, DBS Group Holdings topped the Singapore Debt Capital Markets underwriting league table in 9M23, with US$2.1b of related proceeds, or a 12.5% market share.