The S$500 million $274.7 million transaction was jointly lead-managed by Barclays, Citibank and DBS Bank. Proceeds from the deal will be used to finance LTA's infrastructure development projects.
The new benchmark, which has come ahead of the government's own plans to issue 15 year paper, carries an annual coupon of 4.17%. Since there is no formal benchmark, pricing was referenced against 15 year interest...