Singamas sells RMB1.38bn of three-year bonds

Singamas Container Holdings managed to sell RMB1.38bn ($211m) of bonds to yield 4.75% in its first ever bond sale. Hong Kong-listed Singamas, the second largest container manufacturer in the world, sold the three-year bonds using Chinese yuan because its operations are mainly in China. Demand for the bonds was oversubscribed to RMB4.6bn with Singapore investors snapping up almost half the issue, according to Royal Bank of Scotland, the joint lead manager and joint bookrunner for the issue. Singamas is 39% owned by Pacific International Lines, Singapore's largest privately-owned shipping company.