SINGAPORE (March 31):  Aspial Corp’s second foray into the retail bond market with its offering of 4-year 5.3% bonds due 2020 has garnered overwhelming interest from investors.

The offer had an overall subscription rate of about four times of the original offer size of $75 million in aggregate principal amount of bonds. The public offer of up to $50 million received about $254 million of valid applications, representing a subscription rate of approximately five times of the original offer size.

Because of the strong response, Aspial says the total issue size of the offer was increased to the maximum of $200 million, comprising $175 million under the public offer and $25 million under the placement.

The placement tranche of $25 million offered to private banking, institutional and other investors was oversubscribed within the first day of its launch.

Aspial shares closed 1.8% higher at 28 cents.