6-Month T-bill BS24122E (07 Nov 2024) Closing Soon

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30 Oct 2024 (Updated: 06 Nov 2024)

6-Month T-bill BS24122E is open for application from 30 Oct 2024. Auction will be conducted on 07 Nov 2024.

A total of $6.8B is offered for this issue, the same as that for the previous issue, BS24121A (24 Oct 2024).

Application typically closes on 06 Nov 2024. 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.

Allotment result will be available on 07 Nov 2024 after 1pm. Subscribe to Notification

Auction Open

Announcement Date
30 Oct 2024 Notify me
Closing Date (Typical)
06 Nov 2024 Remind me
Auction Date
07 Nov 2024 Notify me
Issue Date
12 Nov 2024
Maturity Date
13 May 2025
Issue Code
BS24122E
ISIN Code
SGXZ72902281
Total Amount Offered
$6,800,000,000

View Past Auctions

Upcoming Auctions

AnnouncementAuctionIssueMaturityCodeISIN
14 Nov 202421 Nov 202426 Nov 202427 May 2025BS24123FSGXZ28140713
28 Nov 202405 Dec 202410 Dec 202410 Jun 2025BS24124ZSGXZ29257813
12 Dec 202419 Dec 202424 Dec 202424 Jun 2025BS24125SSGXZ30036156

Monitor Upcoming Auctions

Recent SGS Benchmark Yield

Date30 Oct 202401 Nov 202404 Nov 202405 Nov 202406 Nov 2024
6-Month Yield (%)2.992.992.992.992.99

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 6-Month 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 DateIssue CodeCut-Off Yield (%)Previous Day Benchmark Yield (%)Difference (%)
20 Jun 2024BS24112W3.743.710.03
04 Jul 2024BS24113N3.703.72-0.02
18 Jul 2024BS24114V3.643.70-0.06
01 Aug 2024BS24115A3.403.60-0.20
15 Aug 2024BS24116E3.343.330.01
29 Aug 2024BS24117F3.133.34-0.21
12 Sep 2024BS24118Z3.103.11-0.01
26 Sep 2024BS24119S2.973.03-0.06
10 Oct 2024BS24120V3.063.000.06
24 Oct 2024BS24121A2.993.01-0.02

Cut-Off Yield had been in the range of -0.21 to 0.06 of Previous Day Benchmark Yield in the auctions above.

Cut-Off Yield, Median Yield, Average Yield

Auction DateIssue CodeCut-Off Yield (%)Median Yield (%)Average Yield (%)
20 Jun 2024BS24112W3.743.543.08
04 Jul 2024BS24113N3.703.402.81
18 Jul 2024BS24114V3.643.502.97
01 Aug 2024BS24115A3.403.302.85
15 Aug 2024BS24116E3.343.202.83
29 Aug 2024BS24117F3.133.002.62
12 Sep 2024BS24118Z3.103.012.90
26 Sep 2024BS24119S2.972.852.79
10 Oct 2024BS24120V3.062.902.76
24 Oct 2024BS24121A2.992.932.84

Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio

Auction DateIssue CodeTotal Amount OfferedTotal Amount AppliedBid-to-Cover Ratio
20 Jun 2024BS24112W$6,600,000,000$15,457,038,0002.34
04 Jul 2024BS24113N$6,500,000,000$15,582,933,0002.40
18 Jul 2024BS24114V$6,800,000,000$15,666,218,0002.30
01 Aug 2024BS24115A$6,800,000,000$17,995,346,0002.65
15 Aug 2024BS24116E$6,900,000,000$16,014,152,0002.32
29 Aug 2024BS24117F$6,800,000,000$15,950,958,0002.35
12 Sep 2024BS24118Z$6,900,000,000$13,422,097,0001.95
26 Sep 2024BS24119S$6,800,000,000$13,920,478,0002.05
10 Oct 2024BS24120V$6,800,000,000$14,884,047,0002.19
24 Oct 2024BS24121A$6,800,000,000$13,526,594,0001.99

Total Amount Allotted, Amount (%) Allotted to Non-Competitive Applications

Auction DateIssue CodeTotal Amount AllottedAmount Allotted to Non-Competitive Applications% Allotted to Non-Competitive Applications% of Non-Competitive Applications Allotted
20 Jun 2024BS24112W$6,600,000,000$2,640,000,00040.00%83.44%
04 Jul 2024BS24113N$6,500,000,000$2,600,000,00040.00%70.80%
18 Jul 2024BS24114V$6,800,000,000$2,720,000,00040.00%82.06%
01 Aug 2024BS24115A$6,800,000,000$2,637,059,00038.78%100.00%
15 Aug 2024BS24116E$6,900,000,000$2,421,007,00035.09%100.00%
29 Aug 2024BS24117F$6,800,000,000$2,110,829,00031.04%100.00%
12 Sep 2024BS24118Z$6,900,000,000$1,711,475,00024.80%100.00%
26 Sep 2024BS24119S$6,800,000,000$1,519,371,00022.34%100.00%
10 Oct 2024BS24120V$6,800,000,000$1,383,065,00020.34%100.00%
24 Oct 2024BS24121A$6,800,000,000$1,449,214,00021.31%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%.

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