HDB Issues $600mil Fixed Rate Notes
The HDB on 3Dec 20 dispensed $600 million, fifteen year fixed price investment notes being involved in its $Thirty two bil MTN Program.
Rated by triple A Fitch Scores, the investment notes are in $Two hundred and fifty thousand values, with a coupon of one point three percent every year payable semi-annually in arrear. The notes are allocated to due on 3 December 2035.
HDB reported the notes “get put forward using positioning to traders according to Sections 274 as well as two hundred and seventy five of the Securities and Futures Act and (wherever relevant) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2018”.
AIP for the investment notes” posting on the SGX-ST gets obtained, their entree to the formal record should “not be taken being a sign of the virtues of Housing and Development Board, its subsidiaries or the notes”.
The investment notes are clarified using The Central Depository, utilizing OCBC as head manager including bookrunner.
Regarding the MTN programme, HDB might possibly allot investment bonds (or notes) occasionally “to fund its growth programs and also working capital needs in addition to roll over the present loanings”.
Set up on 1 February 1960 being a statutory bodies, HDB houses about 80percent of SG’s citizen population. More than 9 in ten Housing and Development Board residents possess the apartments they are living in.