Singapore Airlines has mandated Bank of China, DBS, HSBC and Standard Chartered to arrange a five-year offshore yuan bond issuance worth 1.5 billion yuan (about 286.4 million Singapore dollars) [1, 2, 3, 4]. The bond is part of the airline’s existing 10 billion SGD multi-currency debt programme, which also included a 500 million SGD 10-year note issued in January 2026 [1, 2, 3].
The new bond will carry a fixed coupon rate of 2.38% and is scheduled to be issued on June 30, 2026, with maturity on June 30, 2031 [3]. The issuance size exceeds the typical benchmark minimum of 1 billion yuan, indicating a substantial bond offering [1, 2, 4]. Proceeds from the bond sale will fund aircraft purchases as well as general corporate and refinancing activities [3].
The plan to launch the offshore yuan bond was announced on June 23, 2026, pending market conditions [1, 2, 4]. On June 22, Singapore Airlines held a global investor call to discuss the potential issuance with the mandated banks [1, 2, 4]. Following the announcement, the airline’s stock price rose 0.55% to close at SGD 7.37 that day [3].
The bond forms part of Singapore Airlines’ ongoing efforts to diversify funding sources and optimize its debt profile using multiple currencies. The company’s previous issuance under the same debt programme took place earlier this year, demonstrating continued access to the bond markets [1, 2, 3].
The next key event is the scheduled bond issuance date of June 30, 2026, when the new yuan-denominated bonds are expected to be officially issued [3]. The bonds will then mature five years later on June 30, 2031 [3].
