SGS Bonds | |
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Available tenor |
2, 5, 10, 15, 20 or 30 years |
Method of sale |
Uniform price auction - competitive or non-competitive bids |
Frequency of issuance |
Monthly, according to the issuance calendar |
Central bank participation |
Yes, only on a non-competitive basis; intended amount (if any) is announced before each auction |
Minimum investment amount |
S$1,000, and in multiples of S$1,000 |
Maximum investment amount |
None for overall holdings; up to the allotment limit for auctions |
Type of interest rate payment |
Fixed semi-annual coupon |
Frequency of interest payments |
Every 6 months, starting from the month of issue |
Products for Institutions
Institutions can buy SGS Bonds and T-bills issued by the Singapore Government, as well as MAS Bills and MAS Floating Rate Notes (FRN) issued by the MAS.
SGS T-bills | |
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Available tenor |
6 months or 1 year |
Method of sale |
Uniform price auction - competitive or non-competitive bids |
Frequency of issuance |
Fortnightly or quarterly, according to the issuance calendar |
Central bank participation |
Yes, only on a non-competitive basis; intended amount (if any) is announced before each auction |
Minimum investment amount |
S$1,000, and in multiples of S$1,000 |
Maximum investment amount |
None for overall holdings; up to the allotment limit for auctions |
Type of interest rate payment |
Zero-coupon; issued on a discount basis |
Frequency of interest payments |
At maturity |
MAS Bills | |
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Available tenor |
4 or 12 weeks |
Method of sale |
Uniform price auction - competitive bids only |
Frequency of issuance |
Weekly for 4-week and 12-week bills, according to the issuance calendar |
Central bank participation |
No |
Minimum investment amount |
S$1,000, and in multiples of S$1,000 |
Maximum investment amount |
None |
Type of interest rate payment |
Zero-coupon; issued on a discount basis |
Frequency of interest payments |
At maturity |
MAS FRN | |
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Available tenor |
6 months |
Method of sale |
Uniform price auction - competitive bids only |
Frequency of issuance |
Monthly, according to the issuance calendar |
Central bank participation |
No |
Minimum investment amount |
S$1,000, and in multiples of S$1,000 |
Maximum investment amount |
None |
Type of interest rate payment |
Floating semi-annual coupon; issued at par |
Frequency of interest payments |
For the 6-month MAS FRN, interest payment would be at maturity. For longer tenor MAS FRN, interest payment would be paid out every 6 months. |