5-year SGS Bond
N700100E
Originally auctioned 25 Feb 2000 · Matures 01 Mar 2007 · matured left
Latest cutoff yield
2.92%
Auctioned 24 Sept 2001 (reopening) · median 0.00%
Issue details
- Fixed coupon:
- 4.00% · paid 01 Sep / 01 Mar
- Tenor:
- 5 years
- Outstanding:
- S$3.7B
- Auctions held:
- 3 (1 original + 2 reopenings)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 24 Sept 2001 | reopen | 2.92% | 0.00% | 2.18 | S$1.2B |
| 28 Sept 2000 | reopen | 4.12% | 0.00% | 2.20 | S$700M |
| 25 Feb 2000 | new issue | 4.14% | 0.00% | 1.95 | S$1.8B |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 2.92% cutoff is 35 bp lower than the previous 5-year SGS auction (N798100A, 3.27% on 29 Jan 2001).
- Price vs par: The bond cleared at S$105.70 per S$100 face value — a premium, because the 4.00% fixed coupon is above the 2.92% 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 25 Feb 2000. 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 (4.00% 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.