The Housing and Development Board (HDB) will be issuing $800 million worth of five-year green senior bonds.
The bonds, which have a coupon rate of 4.09% per annum (p.a.), will come with an upsize option that’s said to be capped at $1.2 billion, according to Bloomberg.
The fixed-rate, senior unsecured bonds are offered in denominations of $250,000 and have a settlement date of Oct 26 and will mature five years later on Oct 26, 2027.
Their coupon dates are on April 26 and Oct 26, with the first payment to be on April 2023.
According to HDB, the net proceeds of the notes are intended to be used to finance or refinance eligible green projects under the project category of green buildings under the HDB green finance framework.
China Construction Bank Singapore, DBS Bank Limited, Maybank Securities, Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB) are the joint lead managers and bookrunners.
