Temasek's CitySpring trust offers up to 8% yield

The infrastructure trust signs up two cornerstone investors for the up to $204 million IPO.

CitySpring Infrastructure Trust has set the price range for its Singapore IPO at a level that will offer investors a divided yield between 6.75% and 8%, market sources said yesterday.

The business trust, which will be made up of gas and water utilities that were previously wholly-owned by Temasek, has also signed up Fidelity and Singapore-based investment firm Indus as cornerstone investors in a move that is expected to increase the attractiveness of the deal. The two cornerstones will...

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