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 last week, Temasek announced the dual-tranche deal in the London morning on Monday and by the afternoon of the same day it priced 200 million of 12-year bonds and 500 million of 30-year bonds.

The...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222