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$200m note issue from HDB

THE Housing and Development Board (HDB) launched a $200 million, two year fixed-rate note issue yesterday under its $7 billion medium-term note programme.

The issue will have a coupon of 1.64 per cent per annum, payable semi-annually in arrears, HDB said.

The notes will be issued in denominations of $250,000 and will be offered to investors by way of placement. Application is being made to list the notes on the Singapore Exchange (SGX).

The lead manager is Citicorp Investment Bank (Singapore).

Last Friday, HDB launched a $300 million, 15-year fixed-rate note issue with a coupon of 3.63 per cent per annum, also payable semi-annually in arrears.

Under the programme, HDB issues bonds or notes to finance its development programme and working capital requirements, as well as to refinance existing housing development loans.


Source: Business Times 21 Feb 08

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