Monetary Authority of Singapore (MAS) has announced plans to issue bonds under the Significant Infrastructure Government Loan Act (Singa) to finance infrastructure projects in the country. The auction is scheduled for September 28, 2021 and is open to both institutional and retail investors.

Retail investors can subscribe to the bonds with a minimum of SGD1,000 cash from DBS/POSB, OCBC and UOB ATMs and internet banking portals, as well as OCBC’s mobile application, and they will need an individual Central Depository (CDP) account. The bond’s yield will be disclosed by MAS an hour after the auction and the bond will be offered for secondary market trading on October 1, 2021.

This will be the first Singapore Government Securities (SGS) bonds to be issued under Singa and MAS expects to raise a total of SGD2.6 billion in the inaugural sale. The Singa act, passed in May 2021, authorises the Government of Singapore to borrow up to SGD90 billion over the next 15 years to finance key long-term infrastructure in the country.