http://business.asiaone.com/news/hdb...ed-rated-notes
SINGAPORE - The Housing and Development Board (HDB) has issued S$1.5 billion, 4-year Fixed Rate Notes (the Notes) under its S$22 billion Multicurrency Medium Term Note (MTN) Programme.
The Notes have a coupon of 1.875% per annum payable semi-annually in arrear. The Notes were issued on November 13, 2013 and will mature on November 13, 2017.
The Notes are in denominations of S$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. Approval in principle for the listing of the Notes on the Singapore Exchange Securities Trading Limited (SGX-ST) has been obtained.
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, HDB said in a statement on Wednesday.
The Joint Lead Managers are BNP Paribas, Singapore Branch, DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, DMG & Partners Securities Pte Ltd, The Hongkong and Shanghai Banking Corporation Limited, Oversea-Chinese Banking Corporation Limited, Standard Chartered Bank and United Overseas Bank Limited.
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. Today, it houses more than 80% of Singapore's resident population and has enabled more than 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.
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