HDB Issues $600mil Fixed Rate Notes
The Housing and Development Board on 3Dec 20 dispensed $6 hundred million, fifteen year permanent amount investment notes being participation its $32 bil Multicurrency Medium Term Note Program.
Ranked by triple A Fitch Ratings, the notes come in $250K denominations, by having a voucher of 1.3 percent per annum payable semi-annually in dues. The notes are readied to due on 3 December 2035.
HDB stated the investment notes “get granted operating arrangement to traders in consonance with Sections two hundred and seventy four and also two hundred and seventy five of the SFA and (wherever suitable) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2K18”.
While AIP for the notes’ listing on the SGX-ST was acquired, their entrance to the certified index must “not be regarded as a symptom of the advantages of HDB, its subsidiaries or the notes”.
The notes are cleared up using The Central Depository, with OCBC as chief manager together with bookrunner.
Regarding the Multicurrency Medium Term Note program, HDB may release bonds (or notes) occasionally “to finance its growth programmes and working funding needs in addition to re-finance the existing loanings”.
Establish on 1 February 1960 as a lawful board, HDB provides roof for about eighty percent of SG’s resident population. Over 9 in 10 HDB dwellers possess the apartments they are living in.