HDB on Friday issued $500 million, five-year Fixed Rate Notes under its $32 billion Multicurrency Medium Term Note (MTN) Programme.
The notes, which will mature on 19 September 2019, have a coupon of 2.288 percent per annum payable semi-annually in arrear.
Cleared through The Central Depository, the notes were in denominations of $250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore.
Approval in principle for the listing of the notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained, with Standard Chartered Bank as lead manager.
However, admission of the notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the notes.
Under HDB’s MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.