HDB issues $800m fixed-rate notes
The notes have a coupon of 1.265% per annum and are payable semi-annually.
The Housing & Development Board (HDB) has issued $800m worth of 10-year fixed-rate notes under its $32b multicurrency medium term note (MTN) programme, according to a media release.
The notes have a coupon of 1.265% per annum and are payable semi-annually in arrear, according to HDB. The notes will mature in 2030 and are rated Aaa by Moody’s Investors Service.
Further, the notes are in denominations of $250,000 and were offered by way of placement to investors. HDB has also obtained approval in principle for the listing of the notes on the Singapore Exchange Securities Trading Limited (SGX-ST) and are cleared through the Central Depository.
DBS Bank and United Overseas Bank will act as the joint lead managers and bookrunners for the notes.
Under HDB’s MTN programme, HDB may from time to time, issue bonds to finance its development programmes and working capital requirements, as well as to refinance the existing borrowings.