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Bonds are securities issued
by governments or companies that pay a specific interest rate
How to invest in bonds?

Investing in Bonds

If you are an Accredited Investor (“AI”; as defined in the Securities and Futures Act (“SFA”)), or a non AI but meet the definition of a Qualified Person as defined below, you can now call your UOB Kay Hian (UOBKH) Trading Representative for bond transactions.

Do note that UOBKH will only trade in bonds with persons who are AIs or Qualified Persons and then only as principal to such persons. As an AI or Qualified Person, one is deemed to understand bond products features, investment risks and able to self assess product suitability.

Please contact your Trading Representative to:

  • Find out the indicative bid/ask price and associated yield
  • Determine the availability of the bond that you wish to purchase. (This is important because bonds are transacted on OTC basis.)

Before trading bonds, you should consider consulting a financial advisor, who can provide advice on whether the investment suit your financial goals and for your full understanding of the bonds you may choose to transact in.

*Definition of a Qualified Person:
A Person, who, while not being Accredited Investor as defined in the SFA, have the personal financial capacity, and intend only, to acquire Unlisted Bonds solely for themselves and solely for their own respective benefits at prices for each purchase of no less than S$ 200,000 (or equivalent in a foreign currency) per purchase in terms of trade value so as to make them each a person pursuant to Section 275 (1A) of the SFA entitled to be offered unlisted securities for purchase; and where the information being provided is an Unlisted Bond that is not an Excluded Investment Product for the purposes of the Financial Advisors Act, is a person who has been assessed as having passed the relevant CAR/CKA (as relevant) requirements to be allowed to trade or invest in such bonds.

Transaction Process

Please call your TR should you wish to invest in bonds. If it is the first time you are trading bonds through UOBKH and

  1. You are an AI, you are required to:

    • Sign the AI Declaration Form
    • Acknowledge the Risk Disclosure Statements
  2. OR

  3. You are a Qualified Person, you are required to:
    • Complete and pass the CAR/CKA requirements
    • Acknowledge the Risk Disclosure Statements

In general, Singapore Dollar denominated bonds have a face value of S$250,000 per bond.

Your Order shall be executed only when it is confirmed by you. You will be informed when the execution is done. You will also receive a Contract Note for the transaction.
Do note that the withdrawal of an Order for the purchase of a bond will be permitted only when UOBKH has not executed the Order. The client shall be liable for all costs and expenses incurred by UOBKH and/or the Custodian.

Please be reminded that UOBKH will deal with you as a customer on a self-directed and execution only basis, and UOBKH does not advise on the merits or suitability of particular bonds or transactions. Investors should have clear understanding their own investment objectives, financial situation and particular needs before committing in any investment products, including bonds.

*Do note that any data, including pricing and yield, prospectus, factsheet or research on a bond or the issuer is solely for informational purposes, and is not to be relied on as advice or recommendation, as it does not have any regard to the specific investment objectives, financial situation and particular needs of any specific person. UOBKH does not warrant the accuracy, adequacy or completeness of the information, and expressly disclaims liability for any errors or omissions. No representation is made that any returns indicated will be achieved. As such, any person acting upon or in reliance of these materials does so entirely at his or her own risk.


Modes of Payment

You can pay for your purchase via

  • Cheque. Please write cheques out to “UOB Kay Hian Pte Ltd” and state your client trading account number at the back of the cheques.
  • Telegraphic transfer. The details are -
Bank: United Overseas Bank Singapore (Main Branch)
Bank Swift Code: UOVBSGSG
Bank Address: 80 Raffles Place UOB Plaza 1, Singapore 048624
For A/C: UOB Kay Hian Private Limited
A/C No: 101-310-502-8
Important Information and Disclaimers

The information set out below and any access to it relates solely to Unlisted bonds – i.e. bonds whose offering documents have not been and are not intended to be registered as a prospectus with the Monetary Authority of Singapore – and accordingly:


is restricted to and intended only for two categories of persons: - namely

  1. persons who are "accredited investors" within the meaning of that expression as defined in both the Securities and Futures Act (Cap. 289) – "SFA" - and the Financial Advisers Act (Cap.110) –"FAA"; and who have not, where they are eligible to do so, opted to be treated as other than such an accredited investor; and

  2. persons who, while not being accredited investors as defined above, have the personal financial capacity, and intend only, to acquire Unlisted Bonds solely for themselves and solely for their own respective benefits at prices for each purchase of no less than S$ 200,000 (or its equivalent in a foreign currency) per purchase so as to make them each a person pursuant to Section 275 (1A) of the SFA entitled to be offered unlisted securities for purchase; and where the information being provided is an Unlisted Bond that is not an Excluded Investment Product for the purposes of the FAA, is a person who has been assessed as having passed the relevant CAR/CKA (as relevant) requirements to be allowed to trade or invest in such bonds.

(collectively “Qualified Persons” and each a “Qualified Person”)



is subject to the terms and disclaimers below.


UOB Kay Hian Pte Ltd (“UOBKH”), shall have no responsibility or liability to any person (even a named addressee) for any loss or prejudice such person may suffer from reading or relying or purported relying on any information in disregard of the restricted access notice above and/or contrary to the terms for and upon which any person is property entitled to receive, review and act on any of the information subject to this notice.

No Financial Advice

Please be reminded that for Qualified Persons, UOBKH will not and does not, without the parties having entered into a specific written agreement to so provide, provide any financial recommendation or advice. Therefore the information and opinions/comments set out below are provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided below or accessible through any web-site links provided below is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice or recommendation.

Qualified Persons who are potential investors in/purchases of the Unlisted Bonds to which the provided or accessible information relates should secure for themselves relevant disclosure documents from the issuers of the bonds in their entirety and determine for themselves the relevance of the information contained in those documents; and their respective eligibility under the terms for the issuer of the bonds to purchase such bonds. The decision to invest in bonds by trading with UOBKH should be based upon the information contained in the disclosure documents issued by the relevant issuers only and any such investigation as the investor deems necessary.

Investment Decision Purely Your Own

Where you are or purport to be (by the terms of the restricted access above) properly entitled to receive, review and act on the information accompanying and subject to this notice, you are representing to UOBKH that you are a Qualified Person. As such you also agree that any and all use of the information below or accompanying this notice or available through the links provided below (generally “Information”) which you make, is solely at your own risk and without any recourse whatsoever to UOBKH. The appropriateness or suitability of any particular bond investment or trading strategy whether opined on or referred to in any of the Information will depend on your individual circumstances and objectives and should be confirmed by yourself with your advisers independently before adoption or implementation.


No Information is to be construed as a solicitation or an offer to buy or sell any specific bonds. The Information (including commentaries) are also not meant to be endorsements or offerings of any bonds. Any specific bond trade between you and UOBKH may be effected only after the parties' agreement on the specific bond, the price for a transaction with respect to the bond and the quantity and otherwise on such terms as are stipulated by UOBKH.

Bond Trading Only As Principals

UOBKH will only trade bonds with you as principal to you (and therefore expressly without the assumption of any advisory or fiduciary duties to you) and then only subject to its standard terms for Unlisted Bond trading. You must note that should you choose to give any order for the purchase or sale of any Unlisted bond with or through UOBKH, UOBKH will assume that you are representing to UOBKH that you are:

(i) Qualified Person with respect to each bond
(ii) aware of its terms for bond trading; and
(iii) agreeable to such terms governing your bond trading transactions with UOBKH

with intent that UOBKH materially relies on such representations in concluding any bond transaction with you.

SFA/FAA Exemptions Claimed

As it is a condition to your being allowed to access/review the Information that you are Qualified Person for both the purposes of the SFA and the FAA, you must also note that UOBKH is also specifically relying on the exemptions from all suitability and mandatory information provision compliance requirements provided pursuant to regulations and guidelines to the SFA and/or the FAA available to it with respect to you as a Qualified Person. Without detracting from the generality of the preceding, where you are a Qualified Person but not an “accredited investor”, it is also a condition and UOBKH is assuming that you have made a conscious decision to make your own suitability decision and not to enter into a specific written agreement with UOBKH to be provided any financial recommendation or advice with respect to any Unlisted Bond you should choose to purchase from UOBKH where no such written agreement exists between the parties with respect to such bond.

No Warranty of Accuracy

All Information is based on sources believed to be reliable, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the Information provided. UOBKH has no obligation to tell you when opinions or other information in provided Information change.

Where Information is provided by personnel from UOBKH, the facts and views presented (unless the Information is in a formal Research Report produced by its Research Department) may have not been reviewed by, and may not reflect information known to the appropriate professionals in UOBKH's employ.

UOBKH make no warranties or representations of any kind relating to the accuracy, completeness, or timeliness of  data in Information onward made available by UOBKH from third-party data providers and shall not have liability for any damages of any kind relating to such data.


The Information may include or contain links to other Internet sites (including sites proprietary to UOBKH or its related entities). Such links are provided for reference only and:

(i) (where not proprietary to UOBKH or its related entities) were independently developed by parties other than UOBKH or its related entities and UOBKH is not responsible for the contents of any such linked sites and does not assume any responsibility for the accuracy or appropriateness of the information contained at such sites. The inclusion of any link does not imply endorsement by UOBKH . Use of any such linked site is at the user's own risk and

(where proprietary to UOBKH or its related entities) is subject to the disclaimers incorporated in those sites and/or to information that may be available from such sites


Please contact your Trading Representative for bonds availability and prices.

General Information

What are bonds?

Bonds are debt securities. When you purchase bonds, you are lending money to a government or corporation, broadly known as issuers. Issuers of bonds may use the money to finance their operations or investments. In return for the loan, the issuer generally pays you income at a specific rate and on specific dates during the life of the bonds (except zero-coupon bonds), and to repay the face value of the bonds when they mature. Some bonds have a convertible, putable, and/or callable feature.
The important features of bonds include:

  • Type and name of issuer;
  • Issue price;
  • Maturity;
  • Coupon;
  • Principal;
  • Yields;
  • Price quotes; and
  • Special provisions, e.g., callability, putability, convertible bonds.

Why invest in bonds?

Subject to solvency and financial position of the issuers, bonds can provide regular interest income. Bonds also offer potential for capital appreciation or depreciation. It is also widely recognized that bonds, as an asset class, is important for investment diversification and asset allocation.

But bonds are not totally risk-free. Among others, bond investment may subject to credit/default risk, liquidity risk, reinvestment risk, market/interest rate risk. In cases of bonds issued in foreign currencies, these bonds may carry foreign exchange or currency devaluation risks. Investors should note that there is a correlation between yield and risk – higher yields can come with higher risks.

Singapore Corporate Bonds Market

The Singapore corporate bond market is mainly composed of statutory board bonds, domestic bonds and non-domestic bonds open to both local and foreign investors. Corporate bonds are generally bought and traded over-the-counter (OTC), with the financial institutions or brokers acting as principals.
Corporate bond offerings can be accessed through a Monetary Authority of Singapore’s prospectus database under “Offers and Prospectuses Electronic Repository and Access” (OPERA).

Retail investors can subscribe to bonds through financial institutions. Issuer prospectuses and websites provide details of bond offerings, such as lead managers, method of issue, and other procedures and regulations related to the issue.

Useful Websites

There are many ways you can learn more about bonds. You can consult your banker or a financial advisor, who can provide advice on whether particular investments suit your financial goals and for your full understanding of the bonds you may choose to transact in. There are a number of information websites that you can access, including


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Whilst care and effort has been taken to ensure the accuracy of the information provided herein, UOB Kay Hian Pte Ltd does not warrant the information expressed or implied is absolutely true, correct, timely or fit for any particular purpose or use. We are not liable for any loss or damage arising from the use of this information. Use of this site may involve the electronic transmission of personal financial information. Using this site is consent to such transmission of this information; such consent is effective at all times when using this site. UOB Kay Hian Pte Ltd utilizes 128-bit browser encryption as a security standard. Usage of UOB Kay Hian Internet Trading constitutes agreement of the Terms and Conditions Governing Internet Trading. Please read it carefully before you invest. Certain information displayed on this site are links from public domain sites; if we have in any way violated any copyrights and other proprietary rights, kindly inform us immediately and we will remove the indicated content from this web-site.

This site is not directed at residents of the United States and countries belonging to the European Economic Area and is not intended for distribution to, or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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