SINGAPORE - The Housing and Development Board (HDB) has issued S$585 million, 12-year Fixed Rate Notes under its S$22 billion Multicurrency Medium Term Note Programme.

The Notes have a coupon of 2.505 per cent per annum payable semi-annually in arrear. They were issued on June 27, 2012 and will mature on June 27, 2024.

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.

The Notes are cleared through The Central Depository (Pte) Limited.

The Joint Lead Managers for the issue of the Notes are DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch, Standard Chartered Bank and United Overseas Bank Limited.

Under HDB's MTN programme, HDB may, from time to time, issue notes to finance its development programmes and working capital requirements as well as to refinance the existing borrowings.

paullim@sph.com.sg