Singapore – MAS’ Asian Bond Grant Scheme.

Qualifying Issuer:

First time Asian companies and non-bank financial institutions with global headquarters in an Asian country including ASEAN, China, India, South Korea, Japan, Australia and New Zealand (together, the "Qualifying Jurisdictions")

Qualifying Currencies:

All local currencies in the Qualifying Jurisdictions and the G-3 currencies

Qualifying Issuance:

the bonds are Qualifying Debt Securities (i.e. meet the "substantially arranged in Singapore" conditions) in accordance with the Income Tax (Qualifying Debt Securities) Regulations; 

the issue size is at least SGD 200 million (or its equivalent in another currency); 

the bonds have a non-redeemable tenor of at least 3 years; 

the bonds are listed on the Singapore Exchange; 

more than half of the gross revenue from arranging the issue is attributable to Financial Sector Incentive companies in Singapore; and 

the bonds are rated by any of S&P, Moody’s and Fitch for any SGD denominated issue

Per-Issuance Cap:

50% of the total eligible expenses, capped at:

SGD 400,000 where the qualifying issuance is rated by any of S&P, Moody’s and Fitch; and 

SGD 200,000 where the qualifying issuance is not rated