Singapore legislation
Regulation 18
of Government Securities (Debt Market and Investment) Regulations 2023
Regulation 18
Issue by syndication must be expressly stated in public notice
For any transferable Government securities that are to be issued under a syndication method, the public notice relating to the issue of those Government securities must —
expressly specify that the issue is by syndication;
state the indicative amount of the issue, which may be expressed in the form of a range;
describe the procedure and timelines for making applications to purchase that issue of transferable Government securities;
state when the amount and price of, and yield for, that issue of transferable Government securities, are expected to be determined;
state whether the Government, or the Authority acting as agent of the Government, reserves the right to set the final issuance amount and allotment of that issue of transferable Government securities;(f)specify the members of the syndicate for that issue, consisting either of primary dealers or other financial institutions or a combination thereof; and
where applicable, identify the lead manager or lead managers from among the syndicate mentioned in paragraph (f).