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Business Times
4 days ago
- Business
- Business Times
Temasek prices US$1.5 billion worth of dollar-denominated fixed and floating-rate bonds due 2027
[SINGAPORE] Singapore investment company Temasek on Thursday (Aug 14) said it has priced two dollar-denominated bonds worth US$1.5 billion in total. On Wednesday, it had announced the launch of an offering comprising two-year fixed rate and two-year floating rate US dollar bonds. Under the bond offering, Temasek Financial (I) has priced US$1.5 billion worth of guaranteed notes due in 2027, in two tranches. It priced US$750 million worth of the two-year fixed rate bonds at a spread of 15 basis points over the two-year benchmark US Treasuries. Investors will be paid every six months at a coupon rate of 3.75 per cent per annum. Issued at 99.826 per cent, the bonds provide a yield to maturity of 3.841 per cent per annum. It also priced US$750 million worth of the two-year floating rate bonds at a spread of 38 basis points over the Secured Overnight Financing Rate. Investors holding these bonds will be paid quarterly interest payments. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The bonds will be issued by its wholly owned subsidiary Temasek Financial (I), under its US$25 billion guaranteed global medium-term note programme. They will be unconditionally and irrevocably guaranteed by Temasek. Net proceeds from the issuance will be provided to Temasek and its investment holding companies to fund their ordinary course of business. Temasek has been assigned an overall corporate credit rating of 'Aaa' by Moody's Investors Service and 'AAA' by S&P Global Ratings, a division of S&P Global. The bonds will be offered to qualified buyers within and outside of the US, with the offering scheduled to close on Aug 20. An application will be made for the bonds' listing and quotation on the official list of the Singapore Exchange. The bonds are expected to list on the bourse on Aug 21. Citigroup, Bank of America Securities, Morgan Stanley and Societe Generale were joint bookrunners for the issuance.
The Sun
4 days ago
- Business
- The Sun
Singapore's Temasek prices $1.5 billion US dollar fixed and floating-rate bonds
SINGAPORE'S state investor Temasek said on Thursday its unit priced two U.S. dollar-denominated bonds totaling $1.5 billion, a day after launching the offer under its $25 billion medium-term note program. The unit, Temasek Financial (I), priced two $750 million two-year bonds, one with a 3.75% fixed rate and the other priced at a spread of 38 basis points over the Secured Overnight Financing Rate, the state investor said in a filing on the Singapore Exchange. The unit intends to use the net proceeds from the bond issuance to support Temasek and its investment holding companies in funding their ordinary course of business, the company said. Citi, Bank of America, Morgan Stanley and Societe Generale are the joint bookrunners - REUTERS
