5-year SGS Bond

NX13100H

Originally auctioned 26 Jun 2013 · Matures 01 Jul 2023 · matured left

Latest cutoff yield

2.39%

Auctioned 28 May 2018 (reopening) · median 2.33%

Issue details

Fixed coupon:: 2.75% · paid 01 Jan / 01 Jul
Tenor:: 5 years
Outstanding:: S$8.8B
Auctions held:: 5 (1 original + 4 reopenings)

Auction history for this issue

Auction date	Type	Cutoff	Median	B/C	This auction
28 May 2018	reopen	2.39%	2.33%	1.53	S$2.2B
27 Apr 2016	reopen	2.01%	1.98%	2.17	S$1.3B
27 Mar 2015	reopen	2.19%	2.10%	1.77	S$1.5B
26 Feb 2014	reopen	2.55%	2.50%	2.13	S$2.0B
26 Jun 2013	new issue	2.85%	2.75%	2.24	S$1.8B

5-year SGS cutoff yield history

Full yield curve and tracker →

Latest auction in context

Yield change: The 2.39% cutoff is 31 bp higher than the previous 5-year SGS auction (N517100F, 2.08% on 27 Mar 2018).
Price vs par: The bond cleared at S$102.86 per S$100 face value — a premium, because the 2.75% fixed coupon is above the 2.39% market yield. Buyers pay more upfront for the higher coupon stream.
Issue history: This issue has been reopened 4 times since the original auction on 26 Jun 2013. 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 (2.75% 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.