Monday, July 16, 2012

Temasek Holdings to issue 10.5-year, 30-year US dollar bonds

SINGAPORE: Temasek Holdings plans to launch a dual tranche bond offering, comprising benchmark 10.5-year and 30-year US dollar-denominated bonds, according to a statement released to the Singapore Exchange (SGX) on Monday.

The bonds will be issued under its US$10-billion medium-term note programme and will be fully guaranteed by Temasek.

This is Temasek's first bond sale in two years.

The issue size was not disclosed, but reports said benchmark issues typically exceed US$500 million.

Temasek said the net proceeds from the bonds sale will be used "to fund their ordinary business".

Standard & Poor's and Moody's have rated the bonds AAA.

Earlier this month, Temasek said it was looking to invest in assets in Europe as well as in the energy and commodities sector.

Over its past fiscal year, Temasek said it had invested S$22 billion, snapping up stakes in North Amercian energy-related firms like Clean Energy Fuels and FTS International.

Temasek's year-end portfolio value stood at S$198 billion as at March 2012.

Its group net profit for the fiscal year fell 16 per cent to S$10.7 billion last year.

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