SingTel's $700 million bond prices tightly thanks to Temasek halo

SingTel becomes the latest high-grade company to wade into the dollar bond market.

SingTel's $700 million bond prices tightly thanks to Temasek halo
A SingTel grid girl at the Singapore grand prix

Singapore Telecommunications SingTel early this morning priced a $700 million five-and-a-half-year bond, attracting strong demand from high-quality accounts. The bonds priced at Treasuries plus 150bp, about 12.5bp inside the initial guidance, which was around Treasuries plus 162.5bp. The expected issue size was $500 million, but the deal ended up raising more thanks to a robust order book north of $3 billion.

Bank of America Merrill Lynch, Citi, Deutsche Bank and Morgan Stanley were joint...

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