As at the end of 2016, Clifford Capital has provided in excess of US$1 billion in financing commitments in support of Singapore-based companies. An overview of our portfolio across sectors and geographies is shown below.

Regional Distribution

Clifford Capital regularly accesses the capital markets under its US$1.35 billion Euro Medium Term Note Programme  (“EMTN”) and US$500 million Euro-Commercial Paper Programme. Our investor base comprises asset managers, banks, corporates, insurers, sovereigns and supranational agencies globally. We also have in place a number of committed and uncommitted credit lines with major international and Singaporean banks.

All of Clifford Capital’s funding is irrevocably and unconditionally guaranteed by the Government of Singapore (rated Aaa / AAA / AAA by Moody’s / S&P / Fitch).

The EMTN Programme is rated AAA by S&P and the ECP Programme P-1 by Moody’s and A-1+ by S&P.

Bonds issued under the EMTN programme may be in public or private placement format. Clifford Capital completed its maiden USD300 million public issue in 2013 with a 5-year maturity and since then has executed further issues on a private placement basis with maturities ranging from 3 to 15 years.

Series Number ISIN Code Issuance Date Maturity Date Currency Amount ($)

1

2

3

4

5

6

XS0974363557

XS1298404127

XS1309419668

XS1477135096

XS1483966476

XS1557988315

5-Nov-13

2-Oct-15

22-Oct-15

26-Aug-16

1-Sep-16

2-Feb-17

5-Nov-18

2-Oct-25

22-Oct-30

26-Aug-26

16-Aug-19

2-Feb-27

USD

USD

USD

USD

USD

USD

300,000,000

50,000,000

50,000,000

50,000,000

100,000,000

50,000,000

The Company therefore has access to a highly flexible and competitive funding base, with an ability to undertake debt at a wide range of maturities and on either a fixed or floating rate basis in accordance with its requirements, which are typically driven by its asset growth.