PUB tapped into the SGD bond market with the launch of $400 million five-year fixed rate notes with a coupon rate of 3.595% per annum, and $400 million 12-year fixed rate bonds with a coupon rate of 3.90% per annum payable semi-annually in arrear.

The bonds are issued in denominations of $250,000. The lead manager for the five-year fixed rate notes is The Hongkong and Shanghai Banking Corporation Limited and the lead manager for the 12-year fixed rate bonds is DBS Bank Ltd. Proceeds from the bond issues will be used to fund PUB's capital projects.