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FINWIRES

Singapore's Overall Bond Issuance Jumps 22% in 2025

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Singapore's overall bond issuance jumped by 22% year on year to $95 billion in 2025, according to data released by the Monetary Authority of Singapore on Monday.

Total outstanding debt arranged by financial institutions in the city-state rose by 6.8% year over year to SG$659 billion, while new debt issuance rose 10% to SG$339 billion, driven by refinancing needs and regional demand for AI, technology and infrastructure funding.

Covered bond issuance reached SG$11 billion, taking the market's outstanding size to around SG$29.8 billion.

MAS has flagged higher bond yields and inflation concerns for 2026, with Asian bond markets to remain resilient.

What else is happening in Treasury?

Treasury

Shanghai Rural Commercial Bank Completes Issuance of 3 Billion Yuan Bonds

Shanghai Rural Commercial Bank (SHA:601825) completed the issuance of 3 billion yuan of three-year fixed-rate bonds, according to a Saturday filing with the Shanghai bourse.The bonds have a coupon rate of 1.58%. Proceeds will be used to meet asset-liability allocation needs, refill funding sources, and enhance credit extension, the bank said in its filing.

SHA:601825
Treasury

National Australia Bank to Issue 15 billion Yen Subordinated Fixed Reset Notes

National Australia Bank (ASX:NAB) will issue 15 billion yen subordinated fixed reset notes due September 2036 under its $100 billion global medium term note program, according to a Monday filing with the Australian bourse.The notes will convert to fully paid shares if the Australian Prudential Regulation Authority determines it necessary to prevent the issuer from becoming non-viable, the filing said.

ASX:NAB
Treasury

HSBC Issues 54.3 Billion Yen in Senior Callable Bonds

HSBC (HKG:0005) issued 54.3 billion yen of senior unsecured callable bonds in three tranches, according to a filing with the Hong Kong stock exchange on Friday.The offering includes 21.6 billion yen of Thirteenth Series notes with a 2.769% coupon, due September 2030; 25.7 billion yen of Fourteenth Series notes carrying a 3.227% coupon, due September 2032; and 7 billion yen of Fifteenth Series notes with a 3.879% coupon, due September 2037.The lender has applied to list the bonds on the Official List of Euronext Dublin for trading on the Global Exchange Market.

HKG:0005