HDB to issue S$400m fixed rate notes

The Housing and Development Board (HDB) said on Tuesday it will issue S$400 million of 5-year Fixed Rate Notes under its S$7 billion Medium Term Note Programme.

The notes, with a coupon of 1.87 per cent per annum payable semi-annually in arrears, will be in denominations of S$250,000.

They will be offered by way of placement to institutional investors.

The lead manager is the Hongkong and Shanghai Banking Corporation.

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

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 – 23 Mar 2010