HDB issues fixed rate green notes at 2.977%

THE Housing and Development Board (HDB) on Tuesday (Jan 23) issued S$800 million worth of fixed rate green notes, with a five-year tenure and coupon rate of 2.977 per cent per annum.

The notes, issued as part of HDB’s S$32 billion multicurrency medium-term note programme, will mature on Jan 23, 2029. They are rated AAA by Fitch Ratings.

The net proceeds will be used to finance or refinance eligible projects involving green buildings, HDB said, citing its green finance framework. The notes were offered via placement to institutional investors, in denominations of S$250,000.

The joint lead managers and bookrunners are Australia and New Zealand Banking Group, Bank of China (Singapore branch), The Hongkong and Shanghai Banking Corporation (Singapore branch) and Standard Chartered Bank (Singapore).