Temasek prices maiden £700 million sterling bond

One of Singapore’s most seasoned borrowers, Temasek issues its first sterling-denominated bond, while BEA closes off last week with a $150 million tap of its recently issued 2020 subordinated debt.

Temasek has opened this week with the issue of its inaugural sterling bond, a 700 million $1.07 billion AaaAAA-rated issue. This is the first time the Singaporean investment company has priced a bond denominated in pounds and the first time an Asian corporate has issued in sterling since ICICI Bank priced a 350 million bond in 2007. And being such a rare event, investors were keen to buy into the transaction.

After going on the road early...

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