Oversea-Chinese Banking Corporation (OCBC) (SGX:O39 
) has retained its position as the top issuer for Singapore dollar bonds (SGD) in Bloomberg’s Bookrunner League Table for 2025. This is the second consecutive year OCBC has clinched the title.
Last year, OCBC participated in 59 SGD bond issuances and raised a total of $7.14 billion. According to Bloomberg’s data, this represents 23.53% of the total market share. Coming in second place was DBS Group Holdings (SGX:D05) with 70 issuances that raised $6.99 billion. United Overseas Bank (UOB) (SGX:U11) ranked third with 48 issuances that raised $5.78 billion. DBS and UOB hold a market share of 23.03% and 19.05% respectively.
Kenneth Yeoh, head of debt capital markets for OCBC, says the bank’s “agility in reacting to market developments” was crucial in helping them “bring diverse, high-quality issuers to the SGD bond market.”
2025 was a banner year for OCBC in terms of issuances. The bank says its notable transactions for the year included a $250 million 3.125% issuance for Optus, the Australian subsidiary of Singapore Telecommunications (SGX:Z74) , a $150 million 2.022% issuance for Singapore Management University as well as a $300 million 2.45% issuance for ground handler and catering company Sats (SGX:S58) .
OCBC expects 2026 issuance levels to remain strong given the Singapore dollar’s status as a safe haven currency.
“We expect that the SGD’s resilience will continue to steer market activity, supported by a diversified investor base and sound credit fundamentals,” says Yeoh.
