Temasek 40-year bonds sold out in 90 minutes!

Tem­asek’s first $1 bil­lion 40-year Singa­pore dol­lar-denom­in­ated bonds were so pop­u­lar that it was sold out in 90 minutes.

And 89% of the sub­scribers are insurers, with remain­ing 9% to funds and 2% going to banks. This is not sur­pris­ing, as it

meets the long-term needs of stable returns required by insurers.

The bond, which matures in August 2050 will have yield of 4.2% p.a.. It is rated AAA by both Stand­ard & Poor’s and Moody’s

Investors Ser­vice. Tem­asek will use the net pro­ceeds from the bond issue to fund its ordin­ary course of busi­ness.

This bond is the longest dated SGD bond yet issued, double the length of the longest dated Singa­pore gov­ern­ment bond.

DBS Bank and Stand­ard Chartered Bank are the joint Lead Man­agers and Book­run­ners for this issu­ance.

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