HDB issues $500m, five-year fixed rate notes

The notes will be in denominations of $250,000.

The Housing & Development Board (HDB) has issued $500m five-year fixed rate notes under its $32m multicurrency medium term note (MTM) programme, an announcement revealed.

The notes which will be in denominations of $250,000 have a coupon of 2.55% per annum payable semi-annually in arrear and will mature on 20 November 2023.

They 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, HDB said.

According to HDB, the notes were rated Aaa by Moody’s Investors Service.

“Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained,” HDB added. “The notes are cleared through The Central Depository

The lead manager and bookrunner is Standard Chartered Bank, the announcement revealed.