5-year SGS Bond
N590100Z
Originally auctioned 28 Aug 1990 · Matures 01 Sept 1995 · matured left
Latest cutoff yield
5.29%
Auctioned 29 Jan 1991 (reopening) · median 0.00%
Issue details
- Fixed coupon:
- 5.38% · paid 01 Mar / 01 Sep
- Tenor:
- 5 years
- Outstanding:
- S$950M
- Auctions held:
- 2 (1 original + 1 reopening)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 29 Jan 1991 | reopen | 5.29% | 0.00% | 2.47 | S$400M |
| 28 Aug 1990 | new issue | 5.52% | 0.00% | 1.51 | S$550M |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 5.29% cutoff is 23 bp lower than the prior reopening of this issue (5.52% on 28 Aug 1990).
- Price vs par: The bond cleared at S$102.62 per S$100 face value — a premium, because the 5.38% fixed coupon is above the 5.29% 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 28 Aug 1990. 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 (5.38% 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.