HDB issues S$675 million, five-year fixed rate notes

SINGAPORE - The Housing and Development Board (HDB) issued S$675 million, five-year fixed rate notes on Tuesday, under its S$32 billion multicurrency medium term note programme.

The notes have a coupon of 1.75 per cent per annum payable semi-annually in arrear, and mature on April 26, 2021.

Rating agency Moody's Investors Service has rated the notes Aaa.

They come in denominations of S$250,000 and were offered by way of placement to certain investors.

HDB said under the programme, it may issue bonds, or notes, from time to time, "to finance its development programmes and working capital requirements, as well as to refinance existing borrowings".

rachaelb@sph.com.sg