HDB Issues $600mil Fixed Rate Notes
Housing and Development Board on 3December 2020 provided $Six hundred mil, 15-year fixed amount notes being participation its $Thirty two bil Multicurrency Medium Term Note Programme.
Ranked by AAA Fitch Ratings, the notes appear in $250,000 denominations, including a voucher of 1.3% per year payable biyearly in liability. The notes are fixed to due on 3 December 2035.
HDB revealed the notes “will be offered operating placement to individuals in line with Sections two hundred and seventy four and two hundred and seventy five of the Securities and Futures Act and (where applied) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2K18”.
Despite the fact that in principle approval for the investment notes” posting on the Singapore Exchange Securities Trading Limited was attained, their acceptance to the certified post shall “in no way be taken as a sign of the values of HDB, its supplementary or the notes”.
The investment notes are cleared using CDP, utilizing OCBC as head management as well as bookrunner.
Regarding the MTN program, HDB might allot investment bonds (or investment notes) every now and then “to fund its advancement programs and also working funding needs as well as to refinance the current loanings”.
Set up on 1February ’60 being a statutory bodies, Housing and Development Board houses approximately 80percent of Singapore’s resident population. More than nine in ten Housing and Development Board residents acquire the flats that they are staying in.