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Singapore Builders Confronting Maturity Wall as Home Prices Drop

By Tony Seruga

$3 billion in Singapore Dollar property bonds maturing in 2017
Investors not adequately rewarded, JP Morgan Private Bank says

Singapore’s real-estate firms are facing record debt maturities, just as home sales post their longest-ever losing streak, straining the finances of builders less prepared to weather the storm.

Singapore builders and trusts have an unprecedented S$1.8 billion ($1.3 billion) of local currency bonds maturing this quarter, S$1.2 billion in the final quarter and another S$3.7 billion in 2017. Credit Suisse Private Banking said it doesn’t recommend smaller builders due to “relatively high” leverage. JPMorgan Chase & Co. said these companies are “most exposed” to a further property market correction given their weakening financial profiles…

Singapore Builders Confronting Maturity Wall as Home Prices Drop

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