Default Fears Resurface Over Singapore's Looming Debt Wall
- Firms must repay S$38 billion of local bonds by end of 2020
- Ongoing distress could lead to ‘futher defaults’: Alvarez
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Default fears are resurfacing in Singapore ahead of a wall of maturing corporate debt, as a U.S. bankruptcy filing by a firm from the city flags lingering pain despite economic recovery.
Pressure to pay down obligations has been unrelenting. Companies excluding banks must repay S$38 billion ($27 billion) of local bonds over the next four years. The maturities peak in 2020, when S$11.2 billion comes due, the most since 2012, according to data compiled by Bloomberg.