Hyflux 6 percent perpetua retail bond

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New perpetual securities for retail investors
http://www.businesstimes.com.sg/comp...erpetuals-at-6

Hyflux distributions shall be payable semi-annually in arrears on May 27 and Nov 27 of each year, with the first payment of distributions scheduled to be made on Nov 27, 2016.

On or after the May 2020 distribution payment, however, the rate may be reset to the swap offer rate (SOR) on the relevant reset date plus an initial spread of 4.2 per cent per annum plus a step-up margin of 2 per cent per annum, Hyflux added.

There is a retail and 250K tranche. For retail customers, you can ballot for it at the ATM or online using UOB,OCBC or DBS/POSB bank account.