5-year SGS Bond
N589101S
Originally auctioned 21 Nov 1989 · Matures 01 Dec 1994 · matured left
Latest cutoff yield
5.35%
Auctioned 03 Apr 1990 (reopening) · median 0.00%
Issue details
- Fixed coupon:
- 5.13% · paid 01 Jun / 01 Dec
- Tenor:
- 5 years
- Outstanding:
- S$800M
- Auctions held:
- 2 (1 original + 1 reopening)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 03 Apr 1990 | reopen | 5.35% | 0.00% | 1.81 | S$250M |
| 21 Nov 1989 | new issue | 5.16% | 0.00% | 2.52 | S$550M |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 5.35% cutoff is 19 bp higher than the prior reopening of this issue (5.16% on 21 Nov 1989).
- Price vs par: The bond cleared at S$100.95 per S$100 face value — a premium, because the 5.13% fixed coupon is above the 5.35% market yield. Buyers pay more upfront for the higher coupon stream.
- Issue history: This issue has been reopened 1 time since the original auction on 21 Nov 1989. 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 (5.13% 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.