Aug 22, 2024 08:58 PM

Singapore’s Temasek Offers 2.7 Billion Yuan in Offshore Bonds

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Temasek Financial (I) intends to allocate the net proceeds from the issuance to its parent company and its investment holding companies to fund their ordinary course of business. Photo: VCG

A wholly owned subsidiary of Singapore state investor Temasek Holdings (Pte.) Ltd. has offered 2.7 billion yuan ($378 million) worth of offshore Chinese yuan-denominated bonds, according to a statement published Wednesday on the Singapore Exchange.

Temasek Financial (I) Ltd.’s offering consists of a 1 billion yuan 10-year bond and a 1.7 billion yuan 30-year bond, the statement showed. Both bonds will be guaranteed by Temasek.

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Temasek Financial (I) Ltd., a subsidiary of Temasek Holdings, offered 2.7 billion yuan ($378 million) in offshore yuan-denominated bonds.
The offering includes a 1 billion yuan, 10-year bond yielding 2.75% and a 1.7 billion yuan, 30-year bond yielding 3.1%, both with semi-annual payments.
Both bonds are rated "Aaa" by Moody's and "AAA" by S&P, with proceeds to fund ordinary business activities.

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Who’s Who

Temasek Holdings (Pte.) Ltd.: Temasek Holdings (Pte.) Ltd. is a state-owned investment company based in Singapore. A wholly owned subsidiary, Temasek Financial (I) Ltd., recently issued offshore Chinese yuan-denominated bonds worth 2.7 billion yuan ($378 million). These bonds, with yields of 2.75% and 3.1% per annum, received the highest ratings from Moody's and S&P. The proceeds will fund the company's ordinary business activities.

Temasek Financial (I) Ltd.: Temasek Financial (I) Ltd. is a wholly owned subsidiary of Singapore state investor Temasek Holdings (Pte.) Ltd. It has offered 2.7 billion yuan ($378 million) worth of offshore Chinese yuan-denominated bonds, including a 1 billion yuan 10-year bond with a 2.75% yield and a 1.7 billion yuan 30-year bond with a 3.1% yield. Both bonds have received "Aaa" and "AAA" ratings from Moody's and S&P Global Ratings. Proceeds will fund its parent company's ordinary business operations.

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What Happened When

Earlier this year：: Temasek Financial (I) Ltd. issued three bonds denominated in yuan, totaling 1.6 billion yuan.

Wednesday：: A statement was published on the Singapore Exchange regarding Temasek Holdings' offering of 2.7 billion yuan worth of offshore Chinese yuan-denominated bonds.

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