Temasek has opened this week with the issue of its inaugural sterling bond, a 700 million $1.07 billion AaaAAA-rated issue. This is the first time the Singaporean investment company has priced a bond denominated in pounds and the first time an Asian corporate has issued in sterling since ICICI Bank priced a 350 million bond in 2007. And being such a rare event, investors were keen to buy into the transaction.
After going on the road early last week, Temasek announced the dual-tranche deal in the London morning on Monday and by the afternoon of the same day it priced 200 million of 12-year bonds and 500 million of 30-year bonds.
The...
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