Temasek Holdings subsidiary Temasek Financial (I) announced on September 30 that it has priced US$2.75 billion ($3.78 billion) Temasek Bonds.
The three tranche offering comprises US$750 million guaranteed notes due 2030, US$1 billion guaranteed notes due 2051, and US$1 billion guaranteed notes due 2070.
See: Temasek launches three tranche offering of 10, 30.5, and 50-year USD Temasek Bonds
The notes are priced under Temasek Financial’s US$25 billion Guaranteed Global Medium Term Note Programme. The limit was increased from US$20 billion on September 14.
See also: Temasek subsidiary increases limit of Guaranteed Global Medium Term Note Programme to US$25 bil
The 10-, 30.5-, and 50-year bonds were priced at a spread of 47.5 basis points (bps), 90 bps, and 110 bps over the 10-, 30-, and 50-year benchmark US Treasuries respectively.
Investors will be paid every six months at a coupon rate of 1%, 2.25%, and 2.5% per annum for the 10-, 30.5-, and 50-year bonds respectively.
The 50-year Temasek Bond marks the first 50-year bond, extending its debt maturity curve to 2070.
The offering is scheduled to close on October 6, and the bonds are expected to be listed on the SGX-ST on October 7.
