HDB Issues $600mil Fixed Rate Notes

The HDB on 3 December released $Six hundred mil, 15-year fixed amount investment notes as involved in its $Thirty two billion Multicurrency Medium Term Note Program.

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Assessed by AAA Fitch Ratings, the notes are in $250,000 denominations, with a coupon of one point three percent every year receivable semi-annually in arrear. The notes are readied to due on 3 Dec ’35.

Housing and Development Board announced the investment notes “become used by way of arrangement to individuals in agreement with Sections 274 and 275 of the Securities and Futures Act and (wherever applied) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2K18”.

Although validation in fundamental for the notes’ posting on the Singapore Exchange Securities Trading Limited has been secured, their access to the recognized list should “not be regarded being a signal of the values of Housing and Development Board, its supplementary or the notes”.

The investment notes are clarified through CDP, utilizing OCBC as head manager together with bookrunner.

Following the Multicurrency Medium Term Note program, HDB might allot bonds (or investment notes) every once in a while “to finance its growth programmes as well as operating resources demands in addition to re-finance the current borrowings”.

Develop on 1 February 1960 being a statutory board, HDB resides close to eighty percent of S’pore’s resident population. More than 9 in 10 Housing and Development Board dwellers acquire the flats that they are living in.

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