The Housing and Development Board ("HDB") has issued S$1.2 billion, 5-year Fixed Rate Notes (the "Notes") under its S$22 billion Multicurrency Medium Term Note ("MTN") Programme.
The Notes have a coupon of 1.23 per cent per annum payable semi-annually in arrear. The Notes were issued on 30 January 2013 and will mature on 30 January 2018.
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 are BNP Paribas, Singapore Branch, DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai 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 1 February 1960. HDB houses 83% of Singapore's resident population and enables 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 older HDB estates, will remain the focus for HDB.