Temasek has set terms for a new ten-year bond, pricing S$750 million through its wholly owned financing vehicle Temasek Financial (I) at an annual coupon rate of 2.65%.
The bond carries a maturity in 2036 and will distribute interest payments to investors on a semiannual basis. According to the announcement, the offering is scheduled to close on August 11, and the securities are expected to begin trading on the Singapore Exchange Securities Trading Limited on August 12.
Structurally, the issuance will sit under Temasek Financial (I)'s existing $30 billion global medium-term note programme. Temasek has provided an unconditional and irrevocable guarantee for the obligation, a feature highlighted in the transaction notice.
Credit ratings referenced in the company statement list Moody's at Aaa and S&P Global Ratings at AAA. These ratings were cited by the issuer in connection with the offering.
The statement also specifies the intended handling of proceeds: Temasek Financial (I) will transfer the net proceeds to Temasek and its investment holding companies to fund normal business activities. No further earmarking or additional allocation details were provided in the release.
Deal mechanics - quick facts:
- Issuer: Temasek Financial (I), a wholly owned unit of Temasek
- Size: S$750 million (S$)
- Tenor: 10 years, maturing in 2036
- Coupon: 2.65% per annum, paid semiannually
- Programme: Issued under a $30 billion global medium-term note programme
- Guarantee: Unconditional and irrevocable guarantee by Temasek
- Credit ratings cited: Moody's Aaa; S&P Global Ratings AAA
- Offering close date: Scheduled for August 11
- Listing: Expected on Singapore Exchange Securities Trading Limited on August 12
This issuance represents a financing action by a state-owned investment company via its financing arm. The notice makes clear how the net proceeds will be allocated and provides the schedule for closing and listing. Beyond those stated facts, the announcement does not provide further operational detail on the use of proceeds or additional terms beyond the items listed above.
Investors and market participants will look to the scheduled closing and subsequent listing date to confirm final allocations and trading commencement. The documentation highlights the guarantee and referenced credit ratings as parts of the issuer's stated credit profile.