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Temasek prices US$1.35 billion 10-year USD Temasek Bond

Singapore, 26 July 2018, 6:00am – Temasek Financial (I) Limited ("TFin-I") has priced US$1.35 billion 3.625% Guaranteed Notes due 2028 (the "T2028-USD Temasek Bond").

Unconditionally and irrevocably guaranteed by Temasek Holdings (Private) Limited ("Temasek"), the T2028-USD Temasek Bond is the 16th bond issue under TFin-I’s US$20 billion Guaranteed Global Medium Term Note Program (the "Program").

The T2028-USD Temasek Bond was priced at a spread of 72 bps over the 10-year benchmark US Treasuries. Investors will be paid every six months, at a coupon rate of 3.625% per annum. The T2028-USD Temasek Bond was issued at 99.576% to give a yield to maturity of 3.676% per annum.

Mr Erwin Pato, Temasek’s Treasury Head, said, "We are pleased with the response to our T2028-USD Temasek Bond. The issue was over-subscribed, with strong demand from high-quality investors globally."

"Our Temasek Bonds continue to serve as public markers of our credit quality. They also increase our funding flexibility and enhance our capital efficiency," Mr Pato added.

Temasek has been assigned an overall corporate credit rating of "Aaa" by Moody’s Investors Service, Inc. ("Moody’s") and "AAA" by S&P Global Ratings, a division of The McGraw-Hill Companies, Inc. ("S&P"), and the T2028-USD Temasek Bond is likewise rated Aaa by Moody’s and AAA by S&P.

TFin-I intends to provide the net proceeds from the issuance of the T2028-USD Temasek Bond to Temasek and its investment holding companies to fund their ordinary course of business.

The offering is scheduled to close on 1 August 2018.

The T2028-USD Temasek Bond is expected to be listed on the Official List of the Singapore Exchange Securities Trading Limited (the "SGX-ST") on 2 August 2018. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein. Admission to the Official List of the SGX-ST and listing and quotation of the T2028-USD Temasek Bond on the SGX-ST are not to be taken as an indication of the merits of TFin-I, Temasek, their respective subsidiary companies (if any), their respective associated companies (if any), the Program, or the T2028-USD Temasek Bond.

The T2028-USD Temasek Bond was 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 BofA Merrill Lynch, Citigroup, HSBC and Morgan Stanley.

 

– End –

 

References to "US$" and "USD" refer to U.S. dollars, the lawful 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 queries, please contact:

Paul EWING-CHOW, Associate Director
Public Affairs, Temasek

Tel: +65 6828 6651;
paulewingchow@temasek.com.sg

For investor queries, please contact:

CHONG Hui Min, Director
Investor Relations, Temasek

Tel: +65 6828 2468;
huimin@temasek.com.sg

 

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