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Singapore Air Sells $600 Million Bond at Discount to Peers

  • Carrier raised cash via rights issue, bonds to cover expenses
  • Omicron dealt a blow to recovery in international travel
Updated on

Singapore Airlines Ltd. became the first carrier to tap the debt market for dollars in 2022, raising funds at a discount to peers thanks to its government backing.

The flag carrier sold $600 million of seven-year bonds to yield 3.493%. That’s nearly a percentage point lower than the average yield at issuance for global airline notes sold in 2021, according to Bloomberg-compiled data.