HDB Issues $600mil Fixed Rate Notes
The Housing and Development Board on 3Dec 20 provided $6 hundred million, fifteen year predetermined rate investment notes being part of its $32 billion Multicurrency Medium Term Note Plan.
Ranked by triple A Fitch Standings, the investment notes come in $250K denominations, with a token of one point three percent every annum receivable every 6 months in liability. They are readied to due on 3 December 2035.
Housing and Development Board reported the investment notes “will be supplied utilizing arrangement to traders according to Sections 274 as well as two hundred and seventy five of the SFA and (where appropriate) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2K18”.
in principle approval for the notes’ posting on the Singapore Exchange Securities Trading Limited gets secured, their access to the legitimate index shall “not be taken being an indicator of the merits of Housing and Development Board, its subsidiaries or the notes”.
The notes are cleared using CDP, with Oversea-Chinese Banking Corporation as chief management and also underwriter.
Following the MTN program, HDB may release bonds (or investment notes) periodically “to capitalize its growth programmes as well as working capital requirements in addition to re-finance the existing loanings”.
Develop on 1Feb 1960 as a statutory board, Housing and Development Board houses around eighty percent of S’pore’s resident population. Beyond nine in ten Housing and Development Board occupants acquire the flats that they are occupying.