5-Year SGS Bond (N526100H) is announced today!
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5-Year SGS Bond N526100H (28 Oct 2026) Open
22 Oct 2026
5-Year SGS Bond N526100H is open for application from 22 Oct 2026. Auction will be conducted on 28 Oct 2026.
A total of $3.2B is offered for this issue, the same as that for the previous issue, NX21100N (26 Jun 2026).
Application typically closes on 27 Oct 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
- 22 Oct 2026 Notify me
- Closing Date (Typical)
- 27 Oct 2026 Remind me
- Auction Date
- 28 Oct 2026 Notify me
- Issue Date
- 02 Nov 2026
- Maturity Date
- 02 Nov 2031
- Issue Code
- N526100H (New)
- ISIN Code
- SGXF62237023
- Coupon Rate
- To be determined at auction
- Coupon Payment Dates
- 01 Nov and 01 May
- Total Amount Offered
- $3,200,000,000
- MAS's Intended Tender Amount
- $300,000,000
Upcoming Auctions
No auction announced.
Recent SGS Benchmark Yield
| Date | 16 Oct 2026 | 19 Oct 2026 | 20 Oct 2026 | 21 Oct 2026 | 22 Oct 2026 |
|---|---|---|---|---|---|
| 5-Year Yield (%) | 2.11 | 2.14 | 2.18 | 2.17 | 2.14 |
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 5-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 (%) |
|---|---|---|---|---|
| 27 Feb 2024 | N522100N | 3.09 | 3.03 | 0.06 |
| 26 Mar 2024 | N524100X | 3.06 | 3.01 | 0.05 |
| 26 Jun 2024 | N523100W | 3.22 | 3.15 | 0.07 |
| 28 Aug 2024 | NY14100E | 2.56 | 2.65 | -0.09 |
| 26 Mar 2025 | N525100T | 2.61 | 2.63 | -0.02 |
| 28 May 2025 | N524100X | 2.05 | 2.07 | -0.02 |
| 27 Aug 2025 | NZ10100F | 1.53 | 1.54 | -0.01 |
| 29 Oct 2025 | N525100T | 1.54 | 1.63 | -0.09 |
| 28 Jan 2026 | N525100T | 1.61 | 1.71 | -0.10 |
| 26 Jun 2026 | NX21100N | 1.75 | 1.71 | 0.04 |
Cut-Off Yield had been in the range of -0.10 to 0.07 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 (%) |
|---|---|---|---|---|
| 27 Feb 2024 | N522100N | 3.09 | 3.03 | 3.00 |
| 26 Mar 2024 | N524100X | 3.06 | 2.95 | 2.94 |
| 26 Jun 2024 | N523100W | 3.22 | 3.18 | 3.04 |
| 28 Aug 2024 | NY14100E | 2.56 | 2.54 | 2.49 |
| 26 Mar 2025 | N525100T | 2.61 | 2.56 | 2.52 |
| 28 May 2025 | N524100X | 2.05 | 1.99 | 1.97 |
| 27 Aug 2025 | NZ10100F | 1.53 | 1.48 | 1.43 |
| 29 Oct 2025 | N525100T | 1.54 | 1.50 | 1.49 |
| 28 Jan 2026 | N525100T | 1.61 | 1.56 | 1.53 |
| 26 Jun 2026 | NX21100N | 1.75 | 1.74 | 1.72 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 27 Feb 2024 | N522100N | $1,500,000,000 | $2,709,447,000 | 1.81 |
| 26 Mar 2024 | N524100X | $2,800,000,000 | $5,424,943,000 | 1.94 |
| 26 Jun 2024 | N523100W | $2,600,000,000 | $5,224,024,000 | 2.01 |
| 28 Aug 2024 | NY14100E | $2,800,000,000 | $10,877,466,000 | 3.88 |
| 26 Mar 2025 | N525100T | $3,000,000,000 | $7,205,719,000 | 2.40 |
| 28 May 2025 | N524100X | $2,600,000,000 | $5,225,361,000 | 2.01 |
| 27 Aug 2025 | NZ10100F | $2,500,000,000 | $6,657,181,000 | 2.66 |
| 29 Oct 2025 | N525100T | $1,400,000,000 | $4,200,732,000 | 3.00 |
| 28 Jan 2026 | N525100T | $2,800,000,000 | $7,361,060,000 | 2.63 |
| 26 Jun 2026 | NX21100N | $3,200,000,000 | $6,992,017,000 | 2.19 |
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 |
|---|---|---|---|---|---|
| 27 Feb 2024 | N522100N | $1,500,000,000 | $65,036,000 | 4.34% | 100.00% |
| 26 Mar 2024 | N524100X | $2,800,000,000 | $402,457,000 | 14.37% | 100.00% |
| 26 Jun 2024 | N523100W | $2,600,000,000 | $405,436,000 | 15.59% | 100.00% |
| 28 Aug 2024 | NY14100E | $2,800,000,000 | $458,385,000 | 16.37% | 100.00% |
| 26 Mar 2025 | N525100T | $3,000,000,000 | $446,884,000 | 14.90% | 100.00% |
| 28 May 2025 | N524100X | $2,600,000,000 | $416,762,000 | 16.03% | 100.00% |
| 27 Aug 2025 | NZ10100F | $2,500,000,000 | $466,566,000 | 18.66% | 100.00% |
| 29 Oct 2025 | N525100T | $1,400,000,000 | $80,633,000 | 5.76% | 100.00% |
| 28 Jan 2026 | N525100T | $2,800,000,000 | $412,964,000 | 14.75% | 100.00% |
| 26 Jun 2026 | NX21100N | $3,200,000,000 | $505,242,000 | 15.79% | 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 (SBNOV26) has a 10-year average return of 2.45% p.a. View Details
The next SSB (SBDEC26) is projected to have a lower 10-year average return. View Projection