5-year SGS Bond
N700100E
Originally auctioned 25 Feb 2000 · Matures 01 Mar 2007 · matured left
Latest cutoff yield
2.92%
Auctioned 24 Sep 2001 (reopening)
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 Sep 2001 | reopen | 2.92% | — | 2.18 | S$1.2B |
| 28 Sep 2000 | reopen | 4.12% | — | 2.20 | S$700M |
| 25 Feb 2000 | new issue | 4.14% | — | 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.
Frequently asked questions
- When does N700100E mature?
- N700100E matures on 01 Mar 2007. At maturity, holders receive the full face value of S$1,000 per bond, plus the final semi-annual coupon.
- What is the coupon rate for N700100E?
- N700100E pays a fixed coupon of 4.00% per year, paid semi-annually. The coupon rate is set at the original auction and does not change for reopenings — reopening auctions adjust the issue price instead to reflect prevailing yields.
- How does N700100E's coupon compare to the current 5-year SGS benchmark yield?
- N700100E's fixed coupon of 4.00% is 190 bp above the current 5-year SGS benchmark of 2.10% (as of 15 Oct 2026). When the benchmark yield rises above an existing bond's coupon, that bond trades below par on the secondary market; when it falls below the coupon, the bond trades above par.
- How is SGS interest taxed for individuals?
- SGS bonds are Qualifying Debt Securities (QDS) under IRAS. Interest income from SGS held by individuals is tax-exempt in Singapore. See iras.gov.sg for the full QDS scheme conditions.
- Where can I buy N700100E?
- N700100E has already been issued (most recent auction 24 Sep 2001). It can be bought or sold on the SGX secondary market through a stockbroker with CDP access. New SGS bonds are issued via MAS primary auctions — see /sgs/ for the current calendar.
Explore more
Other 5-year SGS
- ← N798100A — 3.27% cutoff
- N502100H → — 2.69% cutoff
- Latest 5-year: NX21100N — 1.75% cutoff
- All SGS bonds →
Compare & cross-check
- Latest SSB: GX26110X — 1.67% year 1
- Latest 6-mo T-bill: BS26120W — 1.90% cutoff
- Compare SSB · T-bill · SGS →