Bond Factsheet
FSGSP 3.495% 14May2030 Corp (SGD)
First Sponsor Group Ltd
Indicative
Full Lot
Bid Price 100.704
Change in Bid Price
-
Bid Yield (%) 3.286 %
Change in Bid Yield
-
Ask Price 102.860
Change in Ask Price 0.161
Ask Yield (%) 2.657 %
Change in Ask Yield 0.046
Indicative price as of 02 Oct 2026, 4:36pm
Bond Issuer
First Sponsor Group Ltd
Guarantor
-
Announcement Date
05 May 2025
Issue Date
14 May 2025
Maturity Date
14 May 2030
Years to Maturity / Next Call
3.609 / -
Modified Duration
3.330 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
3.495
Coupon Type
Fixed
Annual Coupon Rate
3.495
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Reference Rate
-
ISIN
SGXF14133460
CUSIP
YO2098466
Bond Currency
SGD
Total Issue Size
128,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
Bond Type
Corporate
Bond Sector
Financials
Bond Sub Sector
Real Estate Management and Development
Issuer Credit Rating (S&P/ Fitch)
***/ N.R
Bond Credit Rating (S&P/ Fitch)
***/ N.R
Shariah Compliant
No
Exchange Listed
SGX
Make Whole Call
The Issuer may, at any time during the tenor of the Notes, upon giving not less than 30 nor more than 60 days’ notice to the Noteholders, redeem all or some of the Notes on any date prior to the Maturity Date at their Make-Whole Amount together with interest accrued to (but excluding) the date fixed for redemption. Any partial redemption of the Notes shall be applied on a pro rata basis. For the purposes of this Condition 6(d):
(i) the “Make-Whole Amount” means an amount equal to the greater of:
(1) an amount equal to the sum of:
(aa) the present value of the principal amount of the Notes discounted from the Maturity Date; and
(bb) the present value of the remaining scheduled interest with respect to the Notes to and including the Maturity Date,
where the expression “present value” in paragraphs (aa) and (bb) above shall be calculated by discounting the relevant amounts to the date of redemption of the Notes at the rate equal to the sum of: (I) the SORA-OIS corresponding to the duration of the remaining period to the Maturity Date of the Notes expressed on a semi-annual compounding basis (rounded up, if necessary, to four decimal places) on the tenth business day prior to the date of redemption of the Notes (the “Make-Whole Amount Determination Date”), provided that if there is no rate corresponding to the relevant period, the SORA-OIS used will be the interpolated interest rate as calculated using the SORA-OIS or the two periods most closely approximating the duration of the remaining period to the Maturity Date; and (II) 0.30 per cent.; and
(2) the Denomination Amount of the Notes; and
(ii) “SORA-OIS” means the (1) SORA-OIS reference rate available on the “OTC SGD OIS” page on Bloomberg under “BGN” appearing under the column headed “Ask” (or such other substitute page thereof or if there is no substitute page, the screen page which is the generally accepted page used by market participants at that time as determined by an independent financial institution (which is appointed by the Issuer and notified to the Issuing and Paying Agent and the Trustee)) at the close of business on the Make-Whole Amount Determination Date, or (2) if a Benchmark Event (as defined in Condition 5(VI)) has occurred in relation to the “SORA-OIS”, such rate as determined in accordance with Condition 5(VI).”;
The Issuer will, on each Make-Whole Amount Determination Date, calculate or procure an independent financial institution appointed by it in good faith to calculate, the relevant Make-Whole Amount. The Issuer will, or will procure such independent financial institution to, cause the relevant Make-Whole Amount to be notified to the Issuing and Paying Agent and the Trustee as soon as practicable after such determination. The making of each calculation by the Issuer or, as the case may be, such independent financial institution, shall (in the absence of manifest error) be final and binding upon all parties.”;
Change Control Put
If so provided hereon, if, for any reason, a Change of Control Event occurs, the Issuer will within seven days of such occurrence give notice to the Noteholders of the occurrence of such event (the “Notice”) and shall, at the option of the holder of any Note, redeem such Note at its Redemption Amount, together with interest accrued to the date fixed for redemption, on the date falling 30 days from the date of the Notice (or if such date is not a business day, on the next day which is a business day). To exercise such option, the holder must deposit (in the case of Bearer Notes) such Note(s) (together with all unmatured Coupons and unexchanged Talons) with the Issuing and Paying Agent at its specified office or (in the case of Registered Notes) the Certificate representing such Note(s) with the Registrar or any other Transfer Agent at its specified office, together with a duly completed option exercise notice in the form obtainable from the lssuing and Paying Agent, the Registrar, any other Transfer Agent or the Issuer (as applicable), no later than 15 days from the date of the Notice. Any Note so deposited may not be withdrawn (except as provided in the Agency Agreement) without the prior consent of the Issuer.
For the purposes of this Condition 6(e)(ii):
(1) a “Change of Control Event” occurs when any person or persons acting together (other than an Existing Substantial Shareholder) acquires Control of the Issuer;
(2) “Control” means the acquisition or control of more than 50.1 per cent. of the voting rights of the issued share capital of the Issuer; and
(3) “Existing Substantial Shareholder” means any person who has a substantial shareholding (such term having the meaning ascribed to it in the Securities and Futures Act, Chapter 289 of Singapore) in the Issuer as at the date of the Trust Deed and, after the date of the Trust Deed, the reference to “any person” shall also include the subsidiaries of such person.
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