20-Year SGS Bond NA16100H (25 Feb 2026) Open
19 Feb 2026
20-Year SGS Bond NA16100H is open for application from 19 Feb 2026. Auction will be conducted on 25 Feb 2026.
A total of $1000.0M is offered for this issue, lower than that of $2.1B for the previous issue, NA16100H (27 Feb 2024).
Application typically closes on 24 Feb 2026. 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
- 19 Feb 2026 Notify me
- Closing Date (Typical)
- 24 Feb 2026 Remind me
- Auction Date
- 25 Feb 2026 Notify me
- Issue Date
- 02 Mar 2026
- Maturity Date
- 01 Mar 2046
- Issue Code
- NA16100H (Reopened)
- Issue No
- 7
- ISIN Code
- SG31A7000004
- Coupon Rate
- 2.750% p.a.
- Coupon Payment Dates
- 01 Mar and 01 Sep
- Total Amount Offered
- $1,000,000,000
- MAS's Intended Tender Amount
- $0
- Accrued Interest Payable by Investor
- 1 Day(s)
Upcoming Auctions
No auction announced.
Recent SGS Benchmark Yield
| Date | 11 Feb 2026 | 12 Feb 2026 | 13 Feb 2026 | 16 Feb 2026 | 19 Feb 2026 |
|---|---|---|---|---|---|
| 20-Year Yield (%) | 2.12 | 2.11 | 2.09 | 2.07 | 2.11 |
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 20-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 2023 | NA12100N | 2.80 | 2.63 | 0.17 |
| 27 Feb 2024 | NA16100H | 3.08 | 3.08 | 0.00 |
Cut-Off Yield had been in the range of 0.00 to 0.17 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 2023 | NA12100N | 2.80 | 2.58 | 2.41 |
| 27 Feb 2024 | NA16100H | 3.08 | 3.02 | 2.92 |
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 2023 | NA12100N | $800,000,000 | $1,510,439,000 | 1.89 |
| 27 Feb 2024 | NA16100H | $2,100,000,000 | $4,467,394,000 | 2.13 |
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 2023 | NA12100N | $800,000,000 | $60,570,000 | 7.57% | 100.00% |
| 27 Feb 2024 | NA16100H | $2,100,000,000 | $315,433,000 | 15.02% | 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 (SBMAR26) has a 10-year average return of 2.16% p.a. View Details
The next SSB (SBAPR26) is projected to have a lower 10-year average return. View Projection