At a glance
Programme detail
Summary
Agency
Monetary Authority of Singapore (MAS)
Status
Open
Applicants
Qualifying corporate or financial institution issuers with an Asian nexus
Support
30% of eligible issuance expenses
Award ceilings
Up to S$450,000 for qualifying S$200 million issuance; S$250,000 for qualifying S$100 million issuance
Issuance limit
Up to two qualifying issuances
Scheme end
31 December 2029
What does it support?
The scheme supports qualifying digital bond issuance, including associated legal, rating, platform, listing and other eligible professional expenses. It is relevant where the issuer plans to use qualifying Singapore digital infrastructure.
Who can apply?
Corporate and financial institution debt issuers must have the required Asian nexus and satisfy the digital issuance criteria. Platform, listing, arranger and issue-size conditions apply. Local-shareholding conditions remain to be confirmed.
How does the support work?
Support is 30% of eligible issuance expenses, with a limit of two qualifying issuances. The ceilings are up to S$450,000 for a qualifying S$200 million issuance and S$250,000 for a qualifying S$100 million issuance. Confirm the applicable tier and detailed transaction requirements with MAS.
What expenditure can qualify?
Eligible costs may include issuance, rating, legal, audit, listing and platform fees accepted under the scheme. These are costs of completing the digital bond transaction; the underlying bond principal is not the grant's cost base.
Key conditions
- Use qualifying Singapore digital market infrastructure.
- Meet the applicable issue-size, exchange or listing and arranger requirements.
- Confirm the issuer's Asian nexus and the remaining number of eligible issuances.
- Assess the proposed structure against MAS's detailed digital issuance criteria.
Timing and application process
The scheme runs through 31 December 2029. Contact [email protected] for transaction-specific guidance. The application timing is within three months of qualifying issuance.
Important programme distinctions
Digital issuance requirements make this route distinct from the general Global-Asia Bond Grant Scheme. The grant subsidises transaction expenses; it does not provide the financing represented by the digital bond or automatically cover the investment project funded with its proceeds.