15-Year SGS Bond NY25200N (26 Jun 2025) Open
20 Jun 2025
15-Year SGS Bond NY25200N is open for application from 20 Jun 2025. Auction will be conducted on 26 Jun 2025.
A total of $1.6B is offered for this issue, lower than that of $1.7B for the previous issue, NZ19100S (29 Jul 2024).
Application typically closes on 25 Jun 2025. CPF application may close a business day earlier. Closing date and time may vary from bank to bank. Please check with your bank for the exact cut-off time.
Auction Open
- Announcement Date
- 20 Jun 2025 Notify me
- Closing Date (Typical)
- 25 Jun 2025 Remind me
- Auction Date
- 26 Jun 2025 Notify me
- Issue Date
- 01 Jul 2025
- Maturity Date
- 01 Jul 2040
- Issue Code
- NY25200N (New)
- ISIN Code
- SGXF29838152
- Coupon Rate
- To be determined at auction
- Coupon Payment Dates
- 01 Jul and 01 Jan
- Total Amount Offered
- $1,600,000,000
- MAS's Intended Tender Amount
- $0
Upcoming Auctions
No auction announced.
Recent SGS Benchmark Yield
| Date | 16 Jun 2025 | 17 Jun 2025 | 18 Jun 2025 | 19 Jun 2025 | 20 Jun 2025 |
|---|---|---|---|---|---|
| 15-Year Yield (%) | 2.44 | 2.43 | 2.40 | 2.42 | 2.39 |
Source: Daily SGS Prices (MAS)
If you wish to submit a competitive bid for this issue, you need to know what is the fair rate. The 15-Year SGS benchmark yield reflects the bid rate quoted by SGS primary dealers. It provides an indication of the current market rate.
Nonetheless, the cut-off yield will be determined through an auction (ie. depends on demand). You may take hints from the statistics below and see how the cut-off yield compared with previous day benchmark yield in past auctions.
Auction Statistics (Last 10 Auctions in The Last 4 Years)
Cut-Off Yield, Previous Day Benchmark Yield
| Auction Date | Issue Code | Cut-Off Yield (%) | Previous Day Benchmark Yield (%) | Difference (%) |
|---|---|---|---|---|
| 29 Mar 2022 | NZ16100X | 2.57 | 2.59 | -0.02 |
| 29 Mar 2023 | NZ19100S | 2.80 | 2.84 | -0.04 |
| 29 Jul 2024 | NZ19100S | 3.02 | 3.07 | -0.05 |
Cut-Off Yield had been in the range of -0.05 to -0.02 of Previous Day Benchmark Yield in the auctions above.
Cut-Off Yield, Median Yield, Average Yield
| Auction Date | Issue Code | Cut-Off Yield (%) | Median Yield (%) | Average Yield (%) |
|---|---|---|---|---|
| 29 Mar 2022 | NZ16100X | 2.57 | 2.53 | 2.47 |
| 29 Mar 2023 | NZ19100S | 2.80 | 2.70 | 2.55 |
| 29 Jul 2024 | NZ19100S | 3.02 | 2.99 | 2.95 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 29 Mar 2022 | NZ16100X | $800,000,000 | $1,729,108,000 | 2.16 |
| 29 Mar 2023 | NZ19100S | $1,400,000,000 | $2,939,959,000 | 2.10 |
| 29 Jul 2024 | NZ19100S | $1,700,000,000 | $4,223,719,000 | 2.48 |
Total Amount Allotted, Amount (%) Allotted to Non-Competitive Applications
| Auction Date | Issue Code | Total Amount Allotted | Amount Allotted to Non-Competitive Applications | % Allotted to Non-Competitive Applications | % of Non-Competitive Applications Allotted |
|---|---|---|---|---|---|
| 29 Mar 2022 | NZ16100X | $800,000,000 | $49,706,000 | 6.21% | 100.00% |
| 29 Mar 2023 | NZ19100S | $1,400,000,000 | $299,634,000 | 21.40% | 100.00% |
| 29 Jul 2024 | NZ19100S | $1,700,000,000 | $290,880,000 | 17.11% | 100.00% |
Non-competitive bids will be allotted first, up to 40% of the total issuance amount. If the amount of non-competitive bids exceeds 40%, the bond will be allocated on a pro-rated basis. This means, when % Allotted to Non-Competitive Applications reaches 40%, % of Non-Competitive Applications Allotted will be less than 100%.
The latest SSB (SBJUL25) has a 10-year average return of 2.49% p.a. View Details
The next SSB (SBAUG25) is projected to have a lower 10-year average return. View Projection