By P.R. Venkat
Singapore state investment company Temasek Holdings Pte. Ltd. has raised a total of US$2.5 billion in bonds that saw strong demand for high-quality institutional and other global investors.
Temasek issued bonds in three tranches that include a US$750 million 20-year bond with a coupon of 2.375% per annum and another US$1 billion in 40-year bond carrying a 2.750% coupon, the state investment company said Tuesday.
This is Temasek's first U.S. dollar-denominated issuance of bonds with a 20 and 40 years tenor.
Temasek also raised another US$750 million in 10-year bond that carries an annual coupon on 1.625%.
Proceeds from the bond sales will be used by Temasek and its investment holding companies to fund their ordinary course of business.
Bonds were issued under its US$25 billion guaranteed global medium-term note program, Temasek said.
Citigroup, Credit Agricole, HSBC, Morgan Stanley and Standard Chartered Bank acted as joint lead managers and bookrunners for Temasek.
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(END) Dow Jones Newswires