Singapore, 5.10am

Temasek Financial (I) Limited (“TFin-I”) has priced US$1.2 billion 2.375% Guaranteed Notes due 2023 and US$0.5 billion 3.375% Guaranteed Notes due 2042 (the “T2023-USD Temasek Bond” and “T2042-USD Temasek Bond,” respectively, and collectively, the “T2023-USD and T2042-USD Temasek Bonds”).

Fully and unconditionally guaranteed by Temasek Holdings (Private) Limited (“Temasek”), the T2023-USD and T2042-USD Temasek Bonds are the 12th and 13th bond issues under TFin-I’s US$10 billion Guaranteed Global Medium Term Note Program (the “Program”).

The T2023-USD Temasek Bond was priced at a spread of 100 bps over the 10-year benchmark US Treasuries. Investors will be paid every six months, at a coupon rate of 2.375% per annum. The T2023-USD Temasek Bond was issued at 99.163 to give a yield to maturity of 2.466% per annum.

The T2042-USD Temasek Bond was priced at a spread of 95 bps over the 30-year benchmark US Treasuries. Investors will be paid every six months, at a coupon rate of 3.375% per annum. The T2042-USD Temasek Bond was issued at 97.653 to give a yield to maturity of 3.502% per annum.

Mr Benny Koh, Temasek’s Treasury Head, said, “We are pleased with the strong support from our global investor base. Both issues were oversubscribed, with robust demand from high-quality investors. These Temasek Bonds are the 12th and 13th issues under our bond program, and they further extend our USD yield curve.”

“Temasek Bonds are issued as public markers of our credit quality. They also increase our funding flexibility and enhance our capital efficiency,” Mr Koh added.

Temasek is rated AAA by Standard & Poor’s Ratings Services (“S&P”) and Aaa by Moody’s Investors Service (“Moody’s”), and the T2023-USD and T2042-USD Temasek Bonds are likewise rated AAA by S&P and Aaa by Moody’s.

TFin-I intends to provide the net proceeds from the issuance of the T2023-USD and T2042-USD Temasek Bonds to Temasek and its investment holding companies to fund their ordinary course of business.

The offering is scheduled to close on 23 July 2012.

The T2023-USD and T2042-USD Temasek Bonds were offered in the United States only to qualified institutional buyers that are also qualified purchasers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (“Securities Act”), and outside the United States only to non-U.S. persons under Regulation S of the Securities Act.

The Joint Lead Managers and Bookrunners were Citigroup, Deutsche Bank, Goldman Sachs and UBS.

References to “US$” and “USD” refer to U.S. dollars, the legal currency of the United States.

This release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. No portion of the proposed offering is intended to be registered in the United States, and no public offering is intended to be conducted in the United States.

For media enquiries, please contact:

Jeffrey Fang
Associate Director, Corporate Affairs
Temasek
DID: (65) 6828-6857
Email: jeffreyfang@temasek.com.sg

Investor Relations Contact:

Chong Hui Min
Associate Director, Investor Relations
Temasek
DID: (65) 6828-2468
Email: huimin@temasek.com.sg