HDB issues $600 million fixed rate notes

Muneerah 3 Dec 2014

The Housing Board has issued 12-year, fixed-rate notes valued at $600 million as part of its $32 billion Multicurrency Medium Term Note (MTN) Programme.

Issued last Monday and scheduled to mature on 1 December 2026, these securities have an interest rate of 3.22 percent payable semi-annually in arrear. The lead manager for the issuance is Overseas-Chinese Banking Corporation (OCBC).

The notes are in denominations of $250,000 and were offered via placements to investors who are covered by Sections 274 and/or 275, Chapter 289 of Singapore’s Securities and Futures Act.

Under the MTN programme, HDB may occasionally issue notes or bonds to fund its projects. Its proceeds may also be used as working capital or to refinance HDB’s outstanding debt.


Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg


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