Arcachon
26-03-14, 23:16
AsiaOne
Wednesday, Mar 26, 2014
SINGAPORE - The Housing and Development Board (HDB) has issued $750 million, 7-year Fixed Rate Notes under its $22 billion Multicurrency Medium Term Note (MTN) Programme.
The Notes have a coupon of 3.008 per cent per annum payable semi-annually in arrear. Issues on March 26, the notes will mature on March 26, 2021.
They are in denominations of $250,000 and 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 in a statement that approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained.
It added that admission of the Notes to the Official List of the SGX-ST should not be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited, HDB said.
The joint lead managers are Australia and New Zealand Banking Group Limited, CIMB Bank Berhad, Deutsche Bank AG, Singapore Branch, Maybank Kim Eng Securities Pte. Ltd. and Standard Chartered Bank.
Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
HDB was set up as a statutory board on February 1, 1960, and currently houses over 80 per cent of Singapore's resident population.
[email protected]
- See more at: http://business.asiaone.com/news/personal-finance/hdb-issues-750m-7-year-fixed-rate-notes#sthash.LqMcSHqK.dpuf
http://business.asiaone.com/news/personal-finance/hdb-issues-750m-7-year-fixed-rate-notes
Definition of 'Medium Term Note - MTN'
1. A note that usually matures in five to 10 years.
2. A corporate note continuously offered by a company to investors through a dealer. Investors can choose from differing maturities, ranging from nine months to 30 years.
Investopedia Says
Investopedia explains 'Medium Term Note - MTN'
1. Notes range in maturity from one to 10 years. By knowing that a note is medium term, investors have an idea of what its maturity will be when they compare its price to that of other fixed-income securities. All else being equal, the coupon rate on medium-term notes will be higher than those achieved on short-term notes.
2. This type of debt program is used by a company so it can have constant cash flows coming in from its debt issuance; it allows a company to tailor its debt issuance to meet its financing needs. Medium-term notes allow a company to register with the SEC only once, instead of every time for differing maturities.
http://www.investopedia.com/terms/m/mtn.asp
Wednesday, Mar 26, 2014
SINGAPORE - The Housing and Development Board (HDB) has issued $750 million, 7-year Fixed Rate Notes under its $22 billion Multicurrency Medium Term Note (MTN) Programme.
The Notes have a coupon of 3.008 per cent per annum payable semi-annually in arrear. Issues on March 26, the notes will mature on March 26, 2021.
They are in denominations of $250,000 and 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 in a statement that approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained.
It added that admission of the Notes to the Official List of the SGX-ST should not be taken as an indication of the merits of HDB, its subsidiaries or the Notes. The Notes are cleared through The Central Depository (Pte) Limited, HDB said.
The joint lead managers are Australia and New Zealand Banking Group Limited, CIMB Bank Berhad, Deutsche Bank AG, Singapore Branch, Maybank Kim Eng Securities Pte. Ltd. and Standard Chartered Bank.
Under HDB's MTN programme, HDB may from time to time, issue bonds (or notes) to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.
HDB was set up as a statutory board on February 1, 1960, and currently houses over 80 per cent of Singapore's resident population.
[email protected]
- See more at: http://business.asiaone.com/news/personal-finance/hdb-issues-750m-7-year-fixed-rate-notes#sthash.LqMcSHqK.dpuf
http://business.asiaone.com/news/personal-finance/hdb-issues-750m-7-year-fixed-rate-notes
Definition of 'Medium Term Note - MTN'
1. A note that usually matures in five to 10 years.
2. A corporate note continuously offered by a company to investors through a dealer. Investors can choose from differing maturities, ranging from nine months to 30 years.
Investopedia Says
Investopedia explains 'Medium Term Note - MTN'
1. Notes range in maturity from one to 10 years. By knowing that a note is medium term, investors have an idea of what its maturity will be when they compare its price to that of other fixed-income securities. All else being equal, the coupon rate on medium-term notes will be higher than those achieved on short-term notes.
2. This type of debt program is used by a company so it can have constant cash flows coming in from its debt issuance; it allows a company to tailor its debt issuance to meet its financing needs. Medium-term notes allow a company to register with the SEC only once, instead of every time for differing maturities.
http://www.investopedia.com/terms/m/mtn.asp