HDB launches S$7 bln debt programme

HDB, which houses 82% of Singapore’s resident population, introduces a medium term note programme that will finance its development programmes and raise working capital.

The Housing and Development Board of Singapore (HDB) announces on Tuesday that it is launching a S$7 billion medium term note programme. The issuance includes S$500 million in a 3-year Fixed Rate, payable semi-annually in arrears at 1.15% per annum, according to the HDB announcement.

Notes are said to be in denominations of S$250,000 and will be 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.

Deutsche Bank AG, Singapore Branch, will be the sole lead manager of the programme.