16 Nov 2011: HDB launches issue of S$600m fixed rate notes (Huh?)

[sense]

By ANGELA TAN

The Housing and Development Board (HDB) has launched on Wednesday a new issuance of notes under its S$12 billion Multicurrency Medium Term Note (MTN) programme.

The issuance comprises a S$600 million, 7-year Fixed Rate Notes issue with a coupon of 1.83 per cent per annum payable semi-annually in arrear.

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.

The joint lead managers are Australia and New Zealand Banking Group Limited and DBS Bank Ltd.

http://www.businesstimes.com.sg/sub/latest/story/0,4574,465462,00.html

 

[Muthukali]

huh... HDB issue bond? or I mountain tortoise?

 

[vamjok]

yah loh that is the first time i heard that as well

 

[flkyflky]

贱屋局借阿窿。发债卷。山穷水尽。

 

[Avenger]

Why? HDB issue notes ..Tamesek issue bonds..

 

[aerobwala]

an engineering exercise? justify cost of fund pegged to market rate

 

[bryanlim1972]

an engineering exercise? justify cost of fund pegged to market rate

http://bizdaily.com.sg/newsite/sing...of-fixed-rate-notes-totalling-s1-275-billion/

Singapore’s HDB Launches Issuance of Fixed Rate Notes Totalling S$1.275 billion

Singapore’s Housing and Development Board (HDB) has launched two new issuances of Notes under its S$12-billion Multicurrency Medium Term Note (MTN) Programme.
The first issuance comprises a S$625-million, five-year Fixed Rate Notes issue with a coupon of 1.01 per cent per annum payable semi-annually in arrears.
The Notes to be issued will be in denominations of S$250,000 and offered by way of placement to investors.
HDB said the other issuance comprises a S$650-million, 10-year Fixed Rate Notes issue with a coupon of 1.95 per cent per annum payable semi-annually in arrears.
The Notes to be issued will also be in denominations of S$250,000 and offered by way of placement to investors.
Application is being made for the two Notes listings on the Singapore Exchange Securities Trading Limited.
For both listings, the Notes will be cleared through The Central Depository (Pte) Limited.
For the five-year Fixed Rate Notes, the joint lead managers are The Hongkong and Shanghai Banking Corporation Limited, Oversea-Chinese Banking Corporation Limited, Standard Chartered Bank, and United Overseas Bank Limited.
For the 10-year Fixed Rate Notes, the lead manager is DBS Bank Ltd.
Under its 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 existing borrowings.

 

[palden]

MBT : I suck the Blood of sinkees till the last drop.
COW: never mind, I will suck their sperm till dry.

 

[Unrepented]

If they practise arms length, then there is no need for such an engineering exercise (assuming if it is for that purpose). Just get quote from market to substantiate.

an engineering exercise? justify cost of fund pegged to market rate

 

[mojito]

Looks like HDB expects interest rates to go up soon!

 

[neddy]

By ANGELA TAN

The issuance comprises a S$600 million, 7-year Fixed Rate Notes issue with a coupon of 1.83 per cent per annum payable semi-annually in arrear.

With the housing price rises & inflation rate, I will end up with less money after 7 years.