Rated AAA by Fitch Ratings, the notes come in denominations of $250,000, with a coupon of 1.37% per annum payable semi-annually in arrear. They are set to mature on 16 March 2028.
The Housing and Development Board (HDB) on Tuesday (16 March) issued $900 million, seven-year fixed rate notes as part of its $32 billion Multicurrency Medium Term Note (MTN) Programme.
Rated AAA by Fitch Ratings, the notes come in denominations of $250,000, with a coupon of 1.37% per annum payable semi-annually in arrear. They are set to mature on 16 March 2028.
The notes were offered by way of placement “to investors pursuant to Sections 274 and 275 of the Securities and Futures Act and (where applicable) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2018”, said HDB.
While approval in principle for the notes’ listing on the Singapore Exchange Securities Trading has been obtained, it should “not be taken as an indication of the merits of HDB, its subsidiaries or the notes”.
The notes are cleared via The Central Depository, with DBS Bank and United Overseas Bank as joint lead managers and Bookrunners.
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.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
