Housing and Development Board issues new notes

A S$400 million, 5-year Fixed Rate Note is part of issuance under HDB's S$7bln MTN Programme.

The Housing and Development Board has launched a new issuance of Notes under its S$7 billion Medium Term Note (MTN) Programme.

The issuance comprises a S$400 million, 5-year Fixed Rate Note issue with a coupon of 1.87% per annum payable semi-annually in arrears.

The Notes to be issued will be in denominations of S$250,000 and will be 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. Application is being made for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST). 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 will be cleared through The Central Depository (Pte) Limited. The lead manager is The Hongkong and Shanghai Banking Corporation Limited.

Under HDB's MTN Programme, HDB may from time to time, issue bonds (or notes) to finance its development programme and working capital requirements.

HDB was set up as a statutory board on 1 February 1960. HDB houses 82% of Singapore's population and enables nine out of ten of them to be homeowners. This has made Singapore one of the highest home ownership nations in the world. The provision of quality housing and related services, and the renewal of the older HDB estates, will remain the focus for HDB.