Singapore Technologies Engineering STE sold $500 million of 10-year notes late last night Hong Kong time, making it the first triple-A-rated borrower from non-Japan Asia to tap the international bond markets since 2006.
On Monday July 7 STE said it planned to sell $1.2 billion worth of medium-term notes MTN in several currencies to finance future investments. But the conglomerate, majority-owned by Singapore sovereign wealth fund Temasek, plans to stagger its capital raising over time and had no need to use the full facility at this time.
Based in the Lion City, STE is an integrated defence and engineering group operating in 24 countries.
The issuing entity, ST Engineering Financial 1 Ltd, is a...
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