Singapore's debt market consists of public/government and private sector bonds.

Government issues comprise short-term treasury bills (out to one year), and longer term fixed coupon bonds.

The Singapore corporate market uses a wide range of debt structures that include fixed and floating rate notes, asset-backed securities (ABS), equity linked notes, mortgage-backed securities (MBS) and many other structured products.

The structured note market continues to grow and comprises about half of outstanding corporate issuance. The number of Special Purpose Vehicles illustrates the importance of structured notes to the Singapore dollar market.

The Commercial MBS (CMBS) market has taken off largely through Real Estate Investment Trusts (REITs). Singapore-listed REITs have been large issuers of CMBS. REITs offer investors access to a portfolio of property assets including commercial, retail, industrial and residential properties, usually paying a dividend based on net proceeds from the property portfolio, rather than a coupon.