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Issuer
Government of Singapore.
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Typical issue size and maturity |
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S$2 - 3 billion for benchmark bond issues |
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S$900 - 1,000 million for Treasury bill (T-bill) issues |
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The maturity ranges from 3-month to 15 years with |
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3-month and 1-year benchmarks for T-bills and 2-,
5-, 7-, 10-, 15- and 20-year benchmarks for bonds. |
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Form
Registered book-entry system |
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Typical denomination
S$1,000 for bonds and T-bills |
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Listing
SGS are not listed on the Singapore Exchange |
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Structure |
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SGS Bonds
- SGS bonds carry a fixed semi-annual coupon paid on the 1st and 15th of the particular month. In case of holiday, coupon payment occurs on the next business day.
- Coupon accrual: Interest accrues from the previous coupon date (inclusive) to the settlement date (exclusive).
- Ex-coupon date rule: SGS trades ex-coupon three working days prior to the coupon date.
- SGS bonds are non-callable/non-puttable bonds with bullet redemptions.
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SGS T-Bills
- SGS T-bills are zero-coupon, and issued and traded on a discount basis.
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