HDB's up-sized issue of S$1.2b five-year bonds snapped up

Singapore

THE Housing & Development Board sold a jumbo S$1.2 billion in 5-year bonds on Tuesday, upsized 50 per cent from an initial S$800 million issue due to strong demand.

It was HDB's first issue following receiving an AAA rating from credit rating agency Moody's - its highest rating - two weeks ago.

The coupon offered for the bonds was 2.10 per cent - lower than two bo…