Bond Factsheet
SPOST 4.350% Perpetual Corp (SGD)
SingPost Group Treasury Pte. Ltd.
Indicative
Full Lot
Bid Price 99.850
Change in Bid Price 0.100
Bid Yield (%) 4.548 %
Change in Bid Yield 0.136
Ask Price 100.450
Change in Ask Price 0.075
Ask Yield (%) 3.435 %
Change in Ask Yield 0.154
Indicative price as of 02 Oct 2026, 4:33pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
SingPost Group Treasury Pte. Ltd.
Guarantor
Singapore Post Limited
Announcement Date
30 Mar 2022
Issue Date
06 Apr 2022
Maturity Date
Perpetual
Years to Maturity / Next Call
Perpetual / 0.500
Modified Duration
0.492 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
4.351
Coupon Type
Variable
Annual Coupon Rate
4.350
Coupon Frequency
Semi Annually
Seniority
Subordinated
Reference Rate
Reset Date: 06 Jul 2027 and every 5 years thereafter
Reset Rate: Prevailing 5Y SORA OIS + Initial Spread (2.183%) + Applicable Step-Up Margin [25bps from year 5.25; additional 75bps from year 25.25 (cumulative 100bps)]
ISIN
SGXF24733614
CUSIP
BV6264105
Bond Currency
SGD
Total Issue Size
250,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
High Yield Corporate
Bond Sector
Industrials
Bond Sub Sector
Air Freight and Logistics
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
SGX
Deferral Interest Payment
If Cumulative Deferral is set out in the relevant Pricing Supplement, any distribution deferred pursuant to this Condition 4.4 shall constitute "Arrears of Distribution". The Issuer may, at its sole discretion, elect to (in the circumstances set out in Condition 4.4(a)) further defer any Arrears of Distribution by complying with the foregoing notice requirement applicable to any deferral of an accrued distribution. The Issuer is not subject to any limit as to the number of times distributions and Arrears of Distribution can or shall be deferred pursuant to this Condition 4.4 except that this Condition 4.4(c) shall be complied with until all outstanding Arrears of Distribution have been paid in full.
Dividend Stopper
If Dividend Stopper is set out in the relevant Pricing Supplement and on any Distribution Payment Date, payments of all distributions scheduled to be made on such date are not made in full by reason of this Condition 4.4, the Issuer and the Guarantor shall not and shall procure that none of the subsidiaries of the Issuer or the Guarantor shall:
(i) declare or pay any dividends, distributions or make any other payment on, and will procure that no dividend, distribution or other payment is made on, any of the Issuer's or the Guarantor's Junior Obligations or (except on a pro rata basis) any of the Issuer's or the Guarantor's Specified Parity Obligations; or
(ii) redeem, reduce, cancel, buy-back or acquire for any consideration, and will procure that no redemption, reduction, cancellation, buy-back or acquisition for any consideration is made in respect of, any of the Issuer's or the Guarantor's Junior Obligations or (except on a pro rata basis) any of the Issuer's or the Guarantor's Specified Parity Obligations,
in each case other than (1) in connection with any employee benefit plan or similar arrangements with or for the benefit of employees, officers, directors or consultants of the Group, (2) as a result of the exchange or conversion of the Specified Parity Obligations of the Issuer or, as the case may be, the Guarantor for the Junior Obligations or the Issuer or, as the case may be, the Guarantor and/or (3) as otherwise specified in the applicable Pricing Supplement unless and until (A) (if Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) the Issuer has satisfied in full all outstanding Arrears of Distribution and Additional Distribution Amount, (B) (if Non-Cumulative Deferral is specified as being applicable in the applicable Pricing Supplement) a redemption of all the outstanding Perpetual Securities has occurred, the next scheduled distribution has been paid in full or an Optional Distribution equal to the amount of a distribution payable with respect to the most recent Distribution Payment Date that was unpaid in full or in part, has been paid in full or (C) the Issuer or, as the case may be, the Guarantor is permitted to do so by an Extraordinary Resolution (as defined in the Trust Deed) of the Perpetual Securityholders and/or as otherwise specified in the applicable Pricing Supplement.
Dividend Pusher
6-month look-back pusher
Issuer Call
REDEMPTION: Callable at par any date during the 3 months prior to the First Reset Date and up to (and including) the First Reset Date or on any Distribution Payment Date thereafter
First Reset Date: 6 Jul 2027
First Call Date: 6 Apr 2027 @ 100.00
Coupon Step
25bps from year 5.25; additional 75bps from year 25.25 (cumulative 100bps)
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