The Housing Board on Tuesday issued $1.2 billion, five-year fixed rate notes under its $32 billion Multicurrency Medium Term Note (MTN) programme.
To mature on 3 November 2020, the notes are in denominations of $250,000 and have a coupon of 2.1 percent per annum payable semi-annually in arrears.
HDB said the notes 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.
While approval in principle for the listing of the notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained, their admission to the official list of SGX-ST should not be taken as an indication of the merits of HDB, its subsidiaries or the notes.
Rated Aaa by Moody’s Investor Service, the notes were cleared through The Central Depository, with Oversea-Chinese Banking Corporation, RHB Securities Singapore and DBS Bank as joint lead managers.
Under the MTN programme, HDB may on occasion, issue bonds (or notes) to fund its development programmes and working capital requirements, as well as to refinance existing debts.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
