HDB issues S$585m fixed rate notes due 2024

Property Guru – Thu, Jun 28, 2012

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By Romesh Navaratnarajah:

The Housing and Development Board (HDB) has issued 12-year Fixed Rate Notes valued at S$585 million under its S$22 billion Multicurrency Medium Term Note (MTN) Programme.

HDB said the Notes will mature on 27 June 2024 and have a coupon of 2.5 percent per annum payable semi-annually in arrears. Issued in denominations of S$250,000, the Notes were offered by way of placement to investors under Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore.

The Singapore Exchange Securities Trading Limited (SGX-ST) has given its approval in principle for the listing of the Notes.

"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," said HDB.

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. Related Stories:

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