At a glance
Programme detail
Summary
Agency
Monetary Authority of Singapore (MAS)
Status
Open
Applicants
Eligible first-time corporate and non-bank financial institution issuers with an Asian nexus
Support
30% of qualifying issuance expenses
Award ceiling
Up to S$400,000 for rated issuance; S$200,000 for unrated issuance
Scheme end
31 December 2029
What does it support?
Support concerns eligible bond issuance and the associated arranging, listing, rating and professional services needed to complete the transaction through Singapore.
Who can apply?
First-time corporate and non-bank financial institution issuers with an Asian nexus must meet MAS's issuance, listing and arranger conditions. Confirm the proposed issuer, bond structure and any ownership-related applicant conditions with MAS.
How does the support work?
The reimbursement rate is 30% of eligible issuance expenses, subject to a ceiling of S$400,000 for rated bonds or S$200,000 for unrated bonds. Eligibility and the applicable award depend on the transaction's compliance with the scheme conditions.
What expenditure can qualify?
Potentially qualifying transaction costs include arranger, audit, legal, rating and listing expenses accepted by MAS. The amount raised from investors and the business activities financed with those proceeds are separate from this expense reimbursement.
Key conditions
- Establish first-time issuer eligibility and the required Asian nexus.
- The issuance threshold is generally at least S$200 million.
- Meet the relevant Singapore listing and arranger conditions.
- Confirm how the proposed bond structure meets the detailed scheme rules before relying on support.
Timing and application process
The scheme is available through 31 December 2029. Contact MAS through [email protected] for guidance. The application timing is within three months of the qualifying issuance.
Important programme distinctions
A bond can raise a substantial financing amount while the reimbursable grant remains a percentage of eligible transaction expenses. A digital or sustainable bond may involve different grant rules; eligibility under G-ABGS should not be assumed to establish entitlement under another scheme.