5-year SGS Bond
NX13100H
Originally auctioned 26 Jun 2013 · Matures 01 Jul 2023 · matured left
Latest cutoff yield
2.39%
Auctioned 28 May 2018 (reopening) · median 2.33%
Issue details
- Fixed coupon:
- 2.75% · paid 01 Jan / 01 Jul
- Tenor:
- 5 years
- Outstanding:
- S$8.8B
- Auctions held:
- 5 (1 original + 4 reopenings)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 28 May 2018 | reopen | 2.39% | 2.33% | 1.53 | S$2.2B |
| 27 Apr 2016 | reopen | 2.01% | 1.98% | 2.17 | S$1.3B |
| 27 Mar 2015 | reopen | 2.19% | 2.10% | 1.77 | S$1.5B |
| 26 Feb 2014 | reopen | 2.55% | 2.50% | 2.13 | S$2.0B |
| 26 Jun 2013 | new issue | 2.85% | 2.75% | 2.24 | S$1.8B |
5-year SGS cutoff yield history
Latest auction in context
- Yield change: The 2.39% cutoff is 31 bp higher than the previous 5-year SGS auction (N517100F, 2.08% on 27 Mar 2018).
- Price vs par: The bond cleared at S$102.86 per S$100 face value — a premium, because the 2.75% fixed coupon is above the 2.39% market yield. Buyers pay more upfront for the higher coupon stream.
- Issue history: This issue has been reopened 4 times since the original auction on 26 Jun 2013. Reopenings add to the same line — same coupon, same maturity — but reprice at each auction's cutoff yield.
Descriptive observations from MAS auction history — not forecasts or recommendations.
About SGS Bonds
SGS Bonds pay the fixed coupon (2.75% in this issue's case) semi-annually on face value until maturity. The cutoff yield is what the auction priced at — it reflects the market's required return and changes at each reopening. Holding to maturity returns face value; selling earlier in the secondary market exposes you to price fluctuation as rates move.
Frequently asked questions
- When does NX13100H mature?
- NX13100H matures on 01 Jul 2023. At maturity, holders receive the full face value of S$1,000 per bond, plus the final semi-annual coupon.
- What is the coupon rate for NX13100H?
- NX13100H pays a fixed coupon of 2.75% per year, paid semi-annually. The coupon rate is set at the original auction and does not change for reopenings — reopening auctions adjust the issue price instead to reflect prevailing yields.
- How does NX13100H's coupon compare to the current 5-year SGS benchmark yield?
- NX13100H's fixed coupon of 2.75% is 105 bp above the current 5-year SGS benchmark of 1.70% (as of 12 Jun 2026). When the benchmark yield rises above an existing bond's coupon, that bond trades below par on the secondary market; when it falls below the coupon, the bond trades above par.
- How is SGS interest taxed for individuals?
- SGS bonds are Qualifying Debt Securities (QDS) under IRAS. Interest income from SGS held by individuals is tax-exempt in Singapore. See iras.gov.sg for the full QDS scheme conditions.
- Where can I buy NX13100H?
- NX13100H has already been issued (most recent auction 28 May 2018). It can be bought or sold on the SGX secondary market through a stockbroker with CDP access. New SGS bonds are issued via MAS primary auctions — see /sgs/ for the current calendar.
Explore more
Other 5-year SGS
- ← N517100F — 2.08% cutoff
- NY07100X → — 2.20% cutoff
- Latest 5-year: N525100T — 1.61% cutoff
- All SGS bonds →
Compare & cross-check
- Latest SSB: GX26070F — 1.46% year 1
- Latest 6-mo T-bill: BS26111H — 1.48% cutoff
- Compare SSB · T-bill · SGS →