30-year SGS Bond
NA20100F
Originally auctioned 26 Feb 2020 · Matures 01 Mar 2050 · 23y 10m left
Latest cutoff yield
1.40%
Auctioned 27 Jan 2021 (reopening) · median 1.30%
Issue details
- Fixed coupon:
- 1.88% · paid 01 Sep / 01 Mar
- Tenor:
- 30 years
- Outstanding:
- S$7.2B
- Auctions held:
- 4 (1 original + 3 reopenings)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 27 Jan 2021 | reopen | 1.40% | 1.30% | 1.81 | S$3.1B |
| 27 Aug 2020 | reopen | 1.15% | 1.09% | 2.08 | S$1.0B |
| 26 Jun 2020 | reopen | 1.28% | 1.10% | 2.85 | S$800M |
| 26 Feb 2020 | new issue | 1.90% | 1.85% | 2.36 | S$2.3B |
30-year SGS cutoff yield history
Latest auction in context
- Yield change: The 1.40% cutoff is 25 bp higher than the prior reopening of this issue (1.15% on 27 Aug 2020).
- Price vs par: The bond cleared at S$112.11 per S$100 face value — a premium, because the 1.88% fixed coupon is above the 1.40% market yield. Buyers pay more upfront for the higher coupon stream.
- Issue history: This issue has been reopened 3 times since the original auction on 26 Feb 2020. 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 (1.88% 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.