By Romesh Navaratnarajah: The Housing and Development Board (HDB) has issued seven-year Fixed Rate Notes valued at S$500 million under its S$22 billion Multicurrency Medium Term Note (MTN) Programme.
HDB said that the Notes will mature on 18 June 2019 and have a coupon of 1.52 percent per annum payable semi-annually in arrears.
"The Notes are in denominations of S$250,000 and were offered by way of placement to investors who fall within Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore," said the HDB.
"Approval in principle for the listing of the notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained. Admission of the Notes to the Official List of the SGX-ST is not to be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited."
The joint lead managers for the Notes are DBS Bank Ltd, The Hongkong and Shanghai Banking Corporation Limited, Deutsche Bank AG, United Overseas Bank Limited and Standard Chartered Bank.
Under its MTN Programme, HDB may from time to time issue Notes to finance its development programmes and working capital requirements as well as refinance existing borrowings. Related Stories: Bukit Batok residents want noisy neighbour evicted
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