5-year SGS Bond
N525100T
Originally auctioned 26 Mar 2025 · Matures 01 Apr 2030 · 3y 11m left
Latest cutoff yield
1.61%
Auctioned 28 Jan 2026 (reopening) · median 1.56%
Issue details
- Fixed coupon:
- 2.50% · paid 01 Oct / 01 Apr
- Tenor:
- 5 years
- Outstanding:
- S$7.2B
- Auctions held:
- 3 (1 original + 2 reopenings)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 28 Jan 2026 | reopen | 1.61% | 1.56% | 2.63 | S$2.8B |
| 29 Oct 2025 | reopen | 1.54% | 1.50% | 3.00 | S$1.4B |
| 26 Mar 2025 | new issue | 2.61% | 2.56% | 2.40 | S$3.0B |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 1.61% cutoff is 7 bp higher than the prior reopening of this issue (1.54% on 29 Oct 2025).
- Price vs par: The bond cleared at S$104.42 per S$100 face value — a premium, because the 2.50% fixed coupon is above the 1.61% market yield. Buyers pay more upfront for the higher coupon stream.
- Issue history: This issue has been reopened 2 times since the original auction on 26 Mar 2025. Reopenings add to the same line — same coupon, same maturity — but reprice at each auction's cutoff yield.
Descriptive observations from MAS auction history — not forecasts or recommendations.
About SGS Bonds
SGS Bonds pay the fixed coupon (2.50% in this issue's case) semi-annually on face value until maturity. The cutoff yield is what the auction priced at — it reflects the market's required return and changes at each reopening. Holding to maturity returns face value; selling earlier in the secondary market exposes you to price fluctuation as rates move.
Learn more
- The full SG retail fixed-income landscape — where SGS bonds sit alongside SSB, T-bills, FDs, MMFs, and CPF.
- Singapore T-bill auctions explained — same MAS uniform-price auction format applies to SGS bonds.
- SSB vs T-bill — the broader retail-bond decision framework, with SGS noted as the long-tenor option.