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Singapore finance solutions provider attracts HNW investment

Singapore finance solutions provider attracts HNW investment

Private banking clients in Asia have participated in a $300 million bond issuance by Clifford Capital, a Singapore-based structured finance solutions provider. 

A spokesperson for the company told Citywire Asia that the private banks are based in Singapore and Europe. Their clients, mainly from Asia and Europe, contributed close to $9 million.

Other investors in the bond offering included banks, asset managers and other institutional investors primarily from Asia. About 4% of the investors were from Europe, the Middle East and Africa.

Cliver Kerner, CEO of Clifford Capital said that the proceeds will be used to fund the ongoing growth of the company.

The three-year bond, which is listed on the Singapore Exchange, offers a coupon of 3.423% per annum with a 15 November 2021 maturity. Citibank, HSBC and UBS are the joint lead managers for the transaction.

The bond is guaranteed by the government of Singapore and is expected to be assigned a AAA rating by Standard & Poor’s, the company said.

Clifford Capital was established in 2012 with the help of the Singapore government. The city-state's investment arm, Temasek, currently owns 40.5% of the firm.

Clifford Capital provides project finance, asset-backed and other structured debt financing solutions for Singapore-based companies in the infrastructure and maritime sectors.

The latest issuance is the second such offering by the company this year. In March, the firm issued a 10-year $300 million bond offering a coupon of 3.38% per annum.

Following this transaction, the company has total outstanding issuance of $1.19 billion under the $1.35 billion euro medium term note programme from both public issues and private placements.

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