HDB issues S$950m, 7-year fixed rate notes

THE Housing and Development Board (HDB) issued S$950 million worth of 7-year fixed rate notes under its S$32 billion multicurrency medium term note programme.

This programme allows HDB to issue bonds (or notes) to finance its development programmes and working capital requirements, as well as to refinance the existing borrowings from time to time.

These notes have a coupon rate of 1.971 per cent per annum, payable semi-annually in arrear, Singapore's public housing authority said in a statement on Tuesday (Jan 25).

They are rated "AAA" by Fitch Ratings and will mature on Jan 25, 2029.

The notes are in denominations S$250,000 and were offered by way of placement to investors.

The Singapore Exchange has given approval in-principle for the listing of the new notes on the bourse.

The joint lead managers and book-runners are DBS, HSBC (Singapore), OCBC, Standard Chartered (Singapore) and UOB.