Lombard loans on the SGX.
Private credit against Singapore Exchange-listed shares — pledged, not sold.
A Lombard loan against SGX-listed shares is credit secured by a pledge of equity listed on the Singapore Exchange. The holder pledges the shares, draws cash against a fraction of their market value, retains ownership and dividends subject to structuring, and recovers the position on repayment.
- Facilities are arranged against equity listed on the Singapore Exchange (SGX), Singapore.
- The pledge preserves ownership, dividends, and the upside for the holder.
- Loan-to-value is set per line; funded in SGD or cross-currency.
- Structured under MAS, with disclosure from 5%.
The venue
Southeast Asia's principal international listings venue. REITs and business trusts form a substantial part of the listing universe; Singapore's tax-treaty network and regulatory profile make it a structurally common location for institutional financing arrangements.
Regulator and disclosure
The Singapore Exchange operates under Monetary Authority of Singapore (MAS). Securities and Futures Act Section 137: substantial-shareholder notifications required at 5% and at every 1% change above. A pledge over a substantial line is arranged with that reporting regime in view, so that the facility is both discreet and compliant, and so that positions near a control or takeover threshold are not disturbed.
Structuring a facility here
Lombard facilities against SGX-listed shares are typically arranged for a tenor of twelve to thirty-six months, funded in SGD or another currency on a cross-currency basis, with the collateral held by a qualified custodian under bankruptcy-remote arrangements. Non-recourse, limited-recourse, and full-recourse structures are available; the choice interacts with the loan-to-value and the spread.
| Exchange | Singapore Exchange (SGX) |
|---|---|
| City · Country | Singapore · Singapore |
| Regulator | Monetary Authority of Singapore (MAS) |
| Disclosure | From 5% |
| Principal indices | Straits Times Index (STI) |
| Segments | Mainboard; Catalist (sponsor-supervised growth board) |
| Currency · Tenor | SGD · 12–36 months |
| Recourse | Non-recourse / limited-recourse / full-recourse |
Financing a position listed on the SGX?
Request terms →See also the country overview: Lombard loans in Singapore.
Other exchanges in the region.
On this market, specifically.
Liquidity and the index
The Straits Times Index anchors the large-capitalisation pool on the SGX Mainboard, with the Catalist board carrying sponsor-supervised growth names. A defining feature of the venue is the weight of REITs and business trusts, whose free floats and daily turnover tend to be steady and well-distributed — helpful characteristics when sizing a Lombard loan against the collateral. Index-constituent lines generally support a higher advance rate; a Catalist or thinly-floated line is reviewed more conservatively, since the holding’s size relative to normal traded volume, not headline market value, governs how it is valued and margined.
Structuring notes
Because Singapore is so often the booking location for cross-border private wealth, a Lombard facility here is frequently arranged to sit alongside an existing custody and banking relationship rather than to replace it. The pledged shares are held with a qualified custodian on bankruptcy-remote terms, and distribution mechanics matter: REIT and business-trust payouts, and the treaty relief available on them, are documented so that income continues to reach the client through the life of the loan. Disclosure at 5% is monitored throughout, and the structure is shaped to keep the position quiet.