Temasek to offer first retail bonds up to $400m

The proposed bonds will be open to retail investors for the first time.

State investment firm Temasek is planning to offer new five-year bonds through its subsidiary Temasek Financial (IV) Private Limited, an announcement revealed.

The new T2023-S$ Temasek Bond is expected to comprise up to $400m in aggregate principal amount of five-year guaranteed notes maturing in 2023. There will be an option to upsize the offer up to a maximum of $500m.

The proposed bond will be split into placements between institutional, accredited and other specified investors, as well as the public offer tranche that will be open to retail investors in Singapore. The firm intends to list the bonds on the Singapore Exchange Securities Trading Limited.

The bond will be issued in denominations of $1,000 and will be offered under Temasek Financial’s $5b guaranteed medium term note programme established on 3 August.

The T2023-S$ Temasek Bond was rated “Aaa” by Moody’s Investors Service (Moody’s) and is expected to be rated “AAA” by S&P Global Ratings (S&P).