SINGAPORE – Singapore’s state investment firm, Temasek, announced on Thursday that its financing unit has successfully priced a dual-tranche bond issuance totaling $1.5 billion, tapping into strong investor demand.
The offering, launched a day earlier under the company’s $25 billion medium-term note program, was managed by its subsidiary, Temasek Financial (I).
According to a filing with the Singapore Exchange, the issuance is comprised of two separate $750 million, two-year bonds:
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A fixed-rate bond with a 3.75% coupon.
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A floating-rate bond priced at a spread of 38 basis points over the Secured Overnight Financing Rate (SOFR).
The company stated that the net proceeds from the sale will be used to fund the ordinary course of business for Temasek and its various investment holding companies.
A consortium of leading financial institutions acted as joint bookrunners for the deal, including Citi, Bank of America, Morgan Stanley, and Societe Generale.
