Singapore Alert to Risks as Cracks Emerge for Junk: Asean Credit
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Demand for higher returns in Singapore bonds from the city’s swelling private banking industry has brought with it greater risks.
Three out of every 10 notes sold last year are yielding more than 6 percent. Halcyon Agri Corp. went to debtholders last month asking them to waive interest cover requirements before it’s even had to stump up a coupon payment. Bloomberg’s default model shows that VTB Capital SA has an almost 50 percent chance of reneging on its debt.