HDB issues S$1b 5-year bonds at 1.645%
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SINGAPORE'S Housing and Development Board (HDB) has issued S$1 billion worth of 5-year notes carrying a fixed coupon rate of 1.645 per cent per annum.
The notes, rated "AAA" by Fitch Ratings, were issued on Nov 23 and will mature on Nov 23, 2026. They are in denominations of S$250,000 and offered by way of placement to investors.
Coupon payments are payable semi-annually in arrears.
The notes are issued under HDB's S$32 billion multicurrency medium term note programme, which allows the statutory board to issue notes to finance development programmes and working capital requirements, as well as to refinance the existing borrowings.
The joint lead managers and bookrunners for this issuance are Bank of China, DBS, OCBC, Standard Chartered and UOB.
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