Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 24 April 2014, 17:00 HKT/SGT
Share:
    

Source: Singapore Exchange (SGX)
IFC Recognises SGX's Support in Commitment to Develop Asia's Capital Markets

Washington, D.C. & Singapore, Apr 24, 2014 - (ACN Newswire) - IFC, a member of the World Bank Group, today recognized the support of Singapore Exchange (SGX) in its initiatives to foster the development of offshore and onshore capital markets in Asia.

IFC Vice President and Treasurer Jingdong Hua and Singapore Exchange Head of Listings, Lawrence Wong, said SGX had played a key role in the success of the IFC Global Rupee Program, launched in October 2013 to support India's capital markets. Under the program, which was listed on SGX and in Luxembourg, IFC issued $1 billion in bonds with three, five, and seven-year maturities, establishing a triple-A benchmark yield curve for global rupee bonds and bringing depth and maturity to the offshore rupee markets. The bonds were sold to a wide range of investors globally.

"Deep and efficient capital markets are the foundations for sustainable growth," said Hua. "IFC is committed to supporting the development of Asia's capital markets, to facilitate the flow of international and domestic savings into local economies and create access to finance for the private sector - the key driver of jobs in the region and globally."

"The IFC Global Rupee Bond program paved the way for Indian corporates and other issuers to raise capital from international investors through rupee-linked debt programs. We look forward to supporting such programs from IFC and other issuers to help finance long-term projects in the region while helping to deepen its capital markets," said Wong.

SGX is the premier bond listing venue in Asia with over 1,600 bonds listed by more than 600 issuers from 34 countries in 20 currencies. Indian agencies and companies are the third largest issuers of bonds listed on SGX, raising a total of US$65 billion. More than 80% of listed international bonds from Indian issuers are listed on SGX. By listing on SGX, bond issuers assure bondholders of timely dissemination of information such as bond offer documents and material company announcements via the SGX website.

IFC supports the development of domestic capital markets by issuing bonds in local currencies. Over the years, IFC has issued bonds in 14 emerging market currencies. In Asia, IFC has issued local currency bonds in the domestic markets in Malaysia and China. IFC has also issued offshore renminbi bonds, and earlier this year became the first international finance institution to list such bonds in London, raising 2 billion renminbi from investors globally.

In addition to issuing bonds, IFC helps domestic private sector companies to access local bond markets. This includes offering credit enhancements to support local currency bond issuances. In April IFC provided the first partial credit guarantee in Indonesia to support a bond issuance by the Ciputra Group, a leading real estate developer.

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world's most pressing development challenges. For more information, visit www.ifc.org

Stay Connected:
www.facebook.com/IFCwbg
www.twitter.com/IFC_org
www.youtube.com/IFCvideocasts
www.ifc.org/SocialMediaIndexBodytext (Arial 9 pt)


About Singapore Exchange (SGX)

Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with about 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.

In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.

Contact:
In Washington, D.C.:
Alexandra Klopfer (IFC)
Phone: +1-202-473-4645
E-mail: [email protected]

In Singapore:
Carolyn Lim (SGX)
Phone: +65-6236-8139
E-mail: [email protected]


Apr 24, 2014 17:00 HKT/SGT
Source: Singapore Exchange (SGX)

Topic: Miscellaneous Achievement
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Singapore Exchange (SGX)
Apr 18, 2019 15:00 HKT/SGT
SGX Bull Charge kicks off 2019 fundraising with Sasseur Asset Management as Premium Partner
Nov 23, 2018 21:20 HKT/SGT
EMC Launches Electricity Procurement Portal for Singapore Businesses
Oct 25, 2016 16:30 HKT/SGT
Medical Services Group HC Surgical Specialists Launches Initial Public Offer at S$0.27 Per Share
Oct 5, 2016 18:30 HKT/SGT
Six SGX-Listed SMEs Present at 'Discovering Value in SGX Small Caps' Investment Seminar
May 28, 2015 18:00 HKT/SGT
More Search Firms Partnering Singapore's Diversity Action Committee in Pro-Diversity Effort
May 22, 2015 19:00 HKT/SGT
Singapore Exchange (SGX) and Zhengzhou Commodity Exchange (ZCE) Seal Collaboration with MOU
Apr 22, 2015 18:00 HKT/SGT
Singapore Exchange (SGX) sees another Quarter of Growth with Net Profit of $88 million
Apr 17, 2015 12:30 HKT/SGT
Bank of China, BOC International Holdings and SGX Expand Collaboration on Renminbi and Market Developments
Mar 3, 2015 13:00 HKT/SGT
MAS and SGX Facilitating Cross-Border Capital Raising in ASEAN
Jan 21, 2015 17:40 HKT/SGT
SGX 2Q Net Profit at $87 Million
More news >>
 News Alerts
Copyright © 2019 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: