HDB issues S$320m, 5-year notes

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

The issuance comprises a S$320 million, 5-year Fixed Rate Note issue with a coupon of 2.0225 per cent per year.

The issued notes will be in denominations of S$250,000 and will be offered by way of placement to investors.

Application is being made for the listing of the notes on the Singapore Exchange.

The joint lead managers are ANZ Banking Group and CIMB Bank.

Under HDB’s Medium Term Note programme, HDB may from time to time issue bonds or notes to finance its development programme and working capital requirements.

Source : Channel NewsAsia – 17 Feb 2011

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