HDB Issues $600mil Fixed Rate Notes
The Housing and Development Board on 3 December issued $Six hundred million, fifteen year set amount investment notes as part of its $Thirty two bil Multicurrency Medium Term Note Programme.
Evaluated by AAA Fitch Standings, the investment notes are in $Two hundred and fifty thousand denominations, by having a token of 1.3% each year receivable every 6 months in arrear. The notes are readied to mature on 3 Dec ’35.
HDB explained the notes “were put forward operating placement to individuals in consonance with Sections two hundred and seventy four and also 275 of the Securities and Futures Act and (where suitable) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2K18”.
Approval in fundamental for the notes’ posting on the SGX-ST was attained, their entrance to the legitimate record should “in no way be regarded as an indicator of the merits of Housing and Development Board, its supplementary or the investment notes”.
The notes are cleared using The Central Depository, with Oversea-Chinese Banking Corporation as head management together with underwriter.
Under the Multicurrency Medium Term Note program, Housing and Development Board may issue bonds (or investment notes) from time to time “to fund its progression programs as well as functioning funding demands in addition to roll over the current credits”.
Set up on 1Feb 1960 being a legal bodies, Housing and Development Board resides approximately 80percent of S’pore’s citizen community. Over nine in 10 Housing and Development Board occupants acquire the house they are residing in.