HDB Issues $600mil Fixed Rate Notes

Housing and Development Board on 3Dec 20 published $Six hundred mil, 15-year set amount notes as part of its $32 billion Multicurrency Medium Term Note Programme.

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Evaluated by triple A Fitch Evaluations, the notes are in $250,000 denominations, by having a coupon of 1.3% every annum payable semi-annually in arrear. The notes are readied to mature on 3 Dec ’35.

HDB announced the investment notes “were supplied operating placing to financiers in consonance with Sections 274 and also two hundred and seventy five of the SFA and (wherever applied) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2K18”.

Although IPA for the investment notes” index on the Singapore Exchange Securities Trading Limited gets secured, their entree to the formal list shall “in no way be look on as an indicator of the values of Housing and Development Board, its subsidiaries or the investment notes”.

The notes are cleared by using CDP, utilizing OCBC as lead supervisor along with underwriter.

Under the MTN program, HDB might just allot bonds (or notes) periodically “to support its progression programmes as well as functioning capital requirements in addition to re-finance the current credits”.

Set up on 1Feb 1960 being a statutory bodies, Housing and Development Board resides more or less 80% of Singapore’s resident population. Over 9 in ten Housing and Development Board occupants acquire the house that they are occupying.

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