HDB to sell S$400m notes

Singapore’s Housing and Development Board (HDB) has sought the assistance of banks to sell S$400 million in fixed-rate notes, according to data released by Bloomberg News.

The 2.815 percent 10-year notes will be put on the market in line with the public housing authority’s S$12 billion medium-tern notes and multi-currency notes programme.

Australia and New Zealand Banking Group, Citigroup Inc., Standard Chartered Plc, CIMB Group Holdings, HSBC Holdings Plc, Oversea-Chinese Banking Corp. (OCBC) and United Overseas Bank have been contracted to conduct the sale.
 
The HDB last sold debt in June issuing S$350 million of 1.685 percent bonds to mature in June 2016, according to Bloomberg’s data. OCBC prices showed that the notes are yielding 1.614 percent with 1.804 percent, at the start of July. The HDB has S$6.5 billion of bonds maturing before the end of 2023, said Bloomberg.

Proceeds of the sale will be used to finance public housing and debt repayment, according to the sales declaration.

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