50-year SGS Bond Green SGS (Infra)
NC22300W
Originally auctioned 04 Aug 2022 · Matures 01 Aug 2072 · 46y 3m left
Latest cutoff yield
2.16%
Auctioned 26 Sept 2025 (reopening) · median 2.00%
Issue details
- Fixed coupon:
- 3.00% · paid 01 Aug / 01 Feb
- Tenor:
- 50 years
- Outstanding:
- S$7.7B
- Auctions held:
- 4 (1 original + 3 reopenings)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 26 Sept 2025 | reopen | 2.16% | 2.00% | 1.74 | S$1.0B |
| 26 Sept 2024 | reopen | 2.62% | 2.50% | 1.64 | S$1.5B |
| 24 Aug 2023 | reopen | 3.04% | 0.00% | 1.40 | S$2.8B |
| 04 Aug 2022 | new issue | 3.04% | 0.00% | 2.17 | S$2.4B |
50-year SGS cutoff yield history
Latest auction in context
- Yield change: The 2.16% cutoff is 46 bp lower than the prior reopening of this issue (2.62% on 26 Sept 2024).
- Price vs par: The bond cleared at S$125.17 per S$100 face value — a premium, because the 3.00% fixed coupon is above the 2.16% 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 04 Aug 2022. 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 (3.00% 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.