Auction Updates
Product Information
SGS bonds are fully backed by the Singapore Government. There are three different categories of SGS bonds, summarised here:
| SGS (Market Development) | SGS (Infrastructure) | Green SGS (Infrastructure) Further information on the Singapore Green Bond Framework |
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| Legislation | Government Securities (Debt Market and Investment) Act 1992 | Significant Infrastructure Government Loan Act 2021 (SINGA) | Significant Infrastructure Government Loan Act 2021 (SINGA) |
| Objective | To develop the domestic debt market | To finance major, long-term infrastructure | To finance major, long-term green infrastructure projects |
| Issuer | Government of Singapore | ||
| Sovereign Credit Rating | AAA | ||
| Available Tenor | 2, 5, 10, 15, 20, 30 or 50 years | ||
| Currency | SGD | ||
| Frequency of Issuance | Auction: Monthly, according to the issuance calendar Syndication: From time to time, according to indicative timeframe as announced by MAS |
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| Method of Sale | Auction: Uniform price auction - competitive or non-competitive bids. Syndication: Placement Tranche - price and yield determined through the book-building process. |
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| Coupon Payment | Semi-annual coupon starting from the month of issue. Paid on the first business day of the month. | ||
| Tax |
There is no capital gains tax in Singapore. For residential financial institutions (excluding Financial Sector Incentive - Standard Tier companies) and corporations, interest income is taxed at a concessionary rate of 10% for SGS issued up to 31 Dec 2023. |
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More Information about SGS bonds
Find out more about Singapore's bond market, the auction process and how to buy and sell SGS bonds.
Understanding SGS Bonds
Get an overview of Singapore's economy, credit rating and bond market. View the market features, legislation and guidelines, and tax treatment.
Buying and Selling SGS Bonds
Find out how to buy SGS bonds at auctions or syndications.
Understanding Auctions and Syndications
View the issuance calendar for planned auctions, and find out how auctions and syndications work.