30-Year SGS Bond NA24300E (28 Apr 2025) Cut-Off Yield 2.62%
28 Apr 2025
This issue offers investors a cut-off yield of 2.62% p.a., lower than that (3.11% p.a.) of the previous issue, NA21200W (27 Sep 2023).
The total value of applications in this auction was $3.3B, representing a bid-to-cover ratio of 1.84. This is higher than the $3.3B (bid-to-cover ratio 2.20) received in the previous issue.
Those who submitted non-competitive bids were fully allotted. On the other hand, those who submitted competitive bid at 2.62% get around 82.85% of the amount applied.
Auction Closed
- Announcement Date
- 22 Apr 2025 Notify me
- Auction Date
- 28 Apr 2025 Notify me
- Issue Date
- 02 May 2025
- Maturity Date
- 01 Jun 2054
- Issue Code
- NA24300E (Reopened)
- Issue No
- 2
- ISIN Code
- SGXPK17B11U8
- Coupon Rate
- 3.250% p.a.
- Coupon Payment Dates
- 01 Dec and 01 Jun
- Cut-Off Yield
- 2.62% p.a.
- Cut-Off Price
- 114.122
- Median Yield
- 2.50% p.a.
- Median Price
- 116.790
- Average Yield
- 2.50% p.a.
- Average Price
- 116.790
- Total Amount Offered
- $1,800,000,000
- MAS's Intended Tender Amount
- $0
- Accrued Interest Payable by Investor
- 152 Day(s)
- Amount Allotted to Non-Competitive Applications
- $90,700,000
- Amount Allotted to MAS
- $0
- Total Amount Applied
- $3,320,726,000
- % of Competitive Applications at Cut-off Allotted
- 82.85%
- % of Non-Competitive Applications Allotted
- 100.00%
- Bid-to-Cover Ratio
- 1.84
Upcoming Auctions
No auction announced.
Recent SGS Benchmark Yield
| Date | 08 May 2025 | 09 May 2025 | 13 May 2025 | 14 May 2025 | 15 May 2025 |
|---|---|---|---|---|---|
| 30-Year Yield (%) | 2.57 | 2.59 | 2.65 | 2.67 | 2.66 |
Source: Daily SGS Prices (MAS)
The 30-Year SGS benchmark yield reflects the bid rate quoted by SGS primary dealers. It provides an indication of the current market rate.
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 (%) |
|---|---|---|---|---|
| 28 Sep 2021 | NA21200W | 1.95 | 1.92 | 0.03 |
| 28 Sep 2022 | NA21200W | 3.28 | 3.36 | -0.08 |
| 27 Sep 2023 | NA21200W | 3.11 | 3.15 | -0.04 |
| 28 Apr 2025 | NA24300E | 2.62 | 2.59 | 0.03 |
Cut-Off Yield had been in the range of -0.08 to 0.03 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 (%) |
|---|---|---|---|---|
| 28 Sep 2021 | NA21200W | 1.95 | 1.89 | 1.84 |
| 28 Sep 2022 | NA21200W | 3.28 | 3.24 | 3.18 |
| 27 Sep 2023 | NA21200W | 3.11 | 3.10 | 2.98 |
| 28 Apr 2025 | NA24300E | 2.62 | 2.50 | 2.50 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 28 Sep 2021 | NA21200W | $2,600,000,000 | $4,105,487,000 | 1.58 |
| 28 Sep 2022 | NA21200W | $1,900,000,000 | $3,888,506,000 | 2.05 |
| 27 Sep 2023 | NA21200W | $1,500,000,000 | $3,297,097,000 | 2.20 |
| 28 Apr 2025 | NA24300E | $1,800,000,000 | $3,320,726,000 | 1.84 |
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 |
|---|---|---|---|---|---|
| 28 Sep 2021 | NA21200W | $2,600,000,000 | $207,355,000 | 7.98% | 100.00% |
| 28 Sep 2022 | NA21200W | $1,900,000,000 | $101,594,000 | 5.35% | 100.00% |
| 27 Sep 2023 | NA21200W | $1,500,000,000 | $60,304,000 | 4.02% | 100.00% |
| 28 Apr 2025 | NA24300E | $1,800,000,000 | $90,700,000 | 5.04% | 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 (SBJUN25) has a 10-year average return of 2.56% p.a. View Details
The next SSB (SBJUL25) is projected to have a lower 10-year average return. View Projection