HDB Issues $600mil Fixed Rate Notes
The Housing and Development Board on 3December 2020 circulated $Six hundred million, fifteen year predetermined rate notes being participation its $Thirty two bil MTN Program.
Rated by triple A Fitch Ratings, the investment notes appear in $250K denominations, including a token of 1.3% per annum payable half yearly in dues. The notes are allocated to due on 3 December 2035.
HDB stated the notes “become made available operating positioning to clients in consonance with Sections two hundred and seventy four as well as two hundred and seventy five of the Securities and Futures Act and (wherever applied) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2018”.
in principle approval for the investment notes” listing on the Singapore Exchange Securities Trading Limited has been acquired, their admission to the certified list should “not be look on being a symptom of the virtues of Housing and Development Board, its subsidiaries or the investment notes”.
The notes are cleared through The Central Depository, with OCBC as lead management as well as lead coordinator.
Under the Multicurrency Medium Term Note program, HDB might allot bonds (or notes) once in a while “to fund its growth programs and functioning capital needs as well as to roll over the existing debts”.
Set up on 1Feb’60 being a lawful board, Housing and Development Board resides around 80percent of SG’s citizen population. Over 9 in ten Housing and Development Board residents own the house that they are residing in.