temaseks-cityspring-trust-offers-up-to-8-yield

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 buy a combined 13.5% of the offering at the IPO price, with Fidelity getting 9% and Indus taking 4.5%, the sources said.

CitySpring is looking to raise between S$241 million and S$286 million $157...
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