Temasek sells S$1 billion of 10-year bonds

The Singapore dollar-denominated transaction is well received by insurance companies in particular, despite pricing at a tight spread.

Temasek Holdings yesterday raised S$1 billion $703 million from the sale of Singapore dollar-denominated 10-year bonds -- its fifth bond sale in just four months. The aggressive capital raising suggests that the Singapore government-owned investment firm is gearing up to make new investments.

In a press release issued in connection with the launch of the bond yesterday morning, Temasek said the proceeds will be used by Temasek and its investment holding companies to fund their ordinary course of business.

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