Overview
Singapore offers an excellent ecosystem for companies to raise international capital. Companies such as those in China and India looking to regionalise and globalise, are increasingly turning to international bond markets to raise capital and diversify funding sources.
The Global-Asia Bond Grant Scheme aims to help companies with an Asian nexus seeking to raise capital through Singapore’s bond market for the first time and is valid till 31 December 2024.
See also: Singapore - the Gateway to Asia's Bond Market - Opening Address by Ms Jacqueline Loh, Deputy Managing Director, Monetary Authority of Singapore, at the Global Borrowers & Investors Forum – Asia on 21 September 2017.
Grant Details
The details of the scheme are as follows:
| Grant categories |
Details |
| Qualifying issuer |
First-time companies and non-bank financial institutions with an Asian nexus. |
| Qualifying issuance |
- Bond issued and listed in Singapore.
- Minimum issuance size of $200 million or a bond programme size of at least $200 million with an initial issuance of at least $20 million for Sustainable Bond Grant Scheme applicants.
- Minimum tenure of 1 year.
- Denominated in Asian local or G3 currencies.
- For SGD-denominated bond issuance, rated by credit rating agency regulated by MAS.
|
| Eligible expenses |
- Arranger fees
- Audit fees
- Credit rating fees
- Legal fees
- Listing agent fees
- Listing fees
|
| Per-issuance cap |
- Eligible expenses are funded at a level of 50%, except credit rating fees for SGD-denominated bond issuance, which are funded at a level of 100%.
- Rated: Cap of $800,000 if the issuance size is at least US$1 billion, or $400,000 for all other issuances.
- Unrated: Cap of $400,000 if the issuance size is at least US$1 billion, or $200,000 for all other issuances.
|
How to Apply
Interested parties can write to fsdf@mas.gov.sg for more information.
Applicants of Global-Asia Bond Grant Scheme should submit their applications no later than 3 months after the issue date.