HDB issues 10-year fixed rate notes for $515m

The notes have a coupon of 2.32% per annum payable semi-annually.

The Housing & Development Board (HDB) issued $515m 10-year fixed rate notes under its $32b multicurrency medium term note (MTN) programme.

According to a press release, the notes have a coupon of 2.32% per annum payable semi-annually in arrear. They were issued on 24 January 2018 and will mature on 24 January 2028.

The notes are in denominations of $250,000 and were offered by way of placement to investors.

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

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