4 defence financings involving Singapore since 2015, each with its terms and primary sources.
Randeep Bubbra | Lawyer | Making defence financeable
One square per financing, by date of signing, pricing or announcement. Volume in US$bn at approximate annual average rates; 2026 runs to 27 Oct 2026.
| Year | Bonds | Total |
|---|---|---|
| 2020 | 1 · US$750m | 1 · US$750m |
| 2021 | – | 0 · US$0m |
| 2022 | 1 · US$1.0bn | 1 · US$1.0bn |
| 2023 | 1 · US$500m | 1 · US$500m |
| 2024 | – | 0 · US$0m |
| 2025 | 1 · US$750m | 1 · US$750m |
| 2026 | – | 0 · US$0m |
ST Engineering US$1bn notes (3.375% 2027 and 3.75% 2032), 5 May 2022.
| Type | Financings | Funded (US$) |
|---|---|---|
| Bond | 4 | US$3.0bn |
BofA Securities (1), J.P. Morgan (1), Credit Agricole CIB (1), Societe Generale (1), Standard Chartered (1), DBS Bank (1), OCBC (1).
Counts are financings on file where the bank or lender is named. All lenders.
| Date | Financing | Type | Amount |
|---|---|---|---|
| 29 Apr 2025 | ST Engineering US$750m 4.250% notes due 2030 | Bond | US$750m |
| 16 May 2023 | ST Engineering US$500m 4.125% notes due 2026 | Bond | US$500m |
| 5 May 2022 | ST Engineering US$1bn notes (3.375% 2027 and 3.75% 2032) | Bond | US$1bn |
| 22 Apr 2020 | ST Engineering US$750m 1.50% notes due 2025 | Bond | US$750m |
Totals are US$ equivalents of funded deals at approximate annual average rates; programme-level and conditional commitments are listed but left out. Records come from public, primary sources. How the register is built.
Deals, terms and the clauses behind them, for the people financing primes, mid-tiers and new defence technology. By Randeep Bubbra.
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