S’pore becomes a destination for junk bonds

[l0nEr]

i wanna buy some of these junk bonds too
where to buy?
i see sgx can only buy stuff like olam bonds, genting perp, cma bonds
where the other junk bonds??

Junk bonds just mean high yield/non-investment grade bonds.
http://www.investopedia.com/terms/j/junkbond.asp
Please refrain from thinking that Junk bonds = distressed bonds. They are not the same thing. Think the word 'junk' is associated with something bad, and the media is just to draw attention to the article.

In any case, most SGD bonds in Singapore are unrated, mainly because it is of a small issue size (imagine if you only issue 100m and need to pay maybe 1m + provide constant updates to get a rating , would you?), local support from Singaporeans who rely on reputation. Unrated bonds, since they do not have a rating, are immediately considered junk bonds too. To give an example, HDB bonds and Capitaland bonds are unrated.

Besides the retail bonds available on SGX (for 1,000 apiece), the rest typically trade in sizes of 100,000 or 200,000 or 250,000. Have to refer to the prospectus. Please contact your bankers for more information.

[chialc]

i wanna buy some of these junk bonds too
where to buy?
i see sgx can only buy stuff like olam bonds, genting perp, cma bonds
where the other junk bonds??

Hi ForeverAlone,
Quite a lot of junk bonds (or may be we just call them bonds) are not listed.

You can buy them from Standard Chartered Bank before issues.

There is quite a lot of new issues, so you can actually pick and choose which one you wanted to buy.

Love Compassionate

[AlphaQuant]

There's a pretty good website done up by an ex bond trader.

http://tradehaven.net/market/bonds/

provides pretty good updates of the local OTC bond issuances as well as the prices (though not necessarily tradeable - there's often a big difference between OTC reference quotes and live bids.)

PS: I do not know the owner of the site.