SGX, Euroclear Bank launch Orchid bond structure

The Orchid bond structure will provide easier access to Singapore bonds for international investors.

The Singapore Exchange has partnered with Brussels-based Euroclear Bank to provide global distribution channels for domestic bond issuances.

“This offering will deepen the bond market’s liquidity pool and has the potential to significantly expand the issuers’ investor base,” Lee Beng Hong, senior managing director and head of fixed income, currencies and commodities for SGX, said in a statement on 19 February.

SGX has more than 6,600 securities listed from 1,600 issuers across 66 countries in its platform. This amounts to an approximate US$2.2 trillion.

The Orchid bond structure will provide access to these bonds directly through SGX or through Euroclear's The Central Depository.

“Within our ecosystem, we see continued scope for this structure laying the foundation for ESG bond issuance in foreign currencies in the near future,” said Stephan Pouyat, global head of capital markets and funds services for Euroclear.

Financial institution HSBC is the arranger, custodian bank, and paying agent for this venture.

SGX and Euroclear are looking into extending the service to other regional issuers.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia