Singapore state investment firm Temasek Holdings’ unit Temasek Financial (I) Ltd is planning to issue 750 million Chinese yuan ($104.5 million) of 3.2% guaranteed offshore bonds due 2029, according to a statement filed to the Singapore Exchange.
The bond, which is guaranteed by Temasek and will be rated “Aaa” by Moody’s, will be issued under Temasek Financial (I)’s $25 billion guaranteed global medium term note programme, according to the statement filed late on Tuesday.
The issue allows Temasek to expand its “investor base and access a new liquidity pool at competitive pricing”, said a Temasek spokesperson on Tuesday.
“We continually evaluate funding opportunities across the different markets, factoring in considerations such as our funding requirements, market conditions and other organisational objectives,” the spokesperson added.
The bond is expected to be issued on Feb. 6 and listed on the Singapore Exchange on Feb. 7, the statement showed.
($1 = 7.1791 Chinese yuan renminbi)
Reuters