HDB raises S$650m at 1.95%: Term sheet

The Housing and Development Board (HDB) yesterday raised s$650 million by selling a 10-year bond, after increasing the size of its planned issue from s$400 million to meet demand, according to a term sheet seen by Dow Jones Newswires.

The yield of the bond was at 1.95 per cent, the term sheet said. DBS was the sole bookrunner for the unrated senior unsecured bond, according to the document.

The HDB is a frequent bond issuer and raised s$1 billion in July by selling three-year and 10-year bonds. These issues, together with this week’s issuance, fall under the authority’s s$12 billion medium-term note programme, which was launched to finance its development programme and working capital requirements as well as refinance its existing borrowings.

The HDB houses 82 per cent of Singapore’s resident population, making Singapore one of the world’s highest home-ownership nations, the authority said on its website.

Source : Today – 16 Sep 2011

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