HDB issues S$800m notes due in 2026, Banking & Finance

Tue, Jan 19, 2021 – 5:41 PM

THE Housing and Development Board (HDB) has issued S$800 million worth of five-year notes, carrying a fixed coupon rate of 0.635 per cent per annum.

They are rated AAA by Fitch Ratings and will mature on Jan 19, 2026, Singapore’s public housing authority said in a statement on Tuesday.

The notes, in denominations of S$250,000, were offered by way of placement to investors. They were launched under HDB’s S$32 billion multicurrency medium-term note programme, under which 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.

The Singapore Exchange has given approval in-principle for the listing of the new notes on the bourse.

The joint lead managers and book-runners are the Bank of China (Singapore), Industrial and Commercial Bank of China (Singapore) and OCBC.

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