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Temasek offers first public bonds with 2.7% interest rate

Temasek has opened investments to the public with the launch of a new bond offer.

As reported by Channel NewsAsia, Singaporean company Temasek Holdings Private Limited (Temasek) opened its doors to public retail investment on Wednesday, Oct 18 by way of public bond offers.

The five-year bonds will mature on Oct 25, 2023, and offer a guaranteed fixed-interest rate of 2.7%. Interest will be paid out in six-month intervals. These bonds will be tradable on the Singapore Exchange on Oct 26.

Officially known as the T2023-S$, the public bond offered by Temasek is done through its own subsidiary, Temasek Financial (IV). These bonds are a part of Temasek Financial’s S$5 billion Guaranteed Medium Term Note Programme.

For sale until Oct 23 at noon, S$200 million in these bonds will be available for public consumption. Another S$200 million in bonds will be offered exclusively to select investors. According to Temasek, depending on demand the total offer could increase to S$500 million, instead of the currently planned S$400 million.

The bonds can be applied for at certain ATMs, those belonging to DBS, POSB, OCBC, or UOB, or through the DBS and POSB banking apps. Offers are only available in multiples of S$1,000, and they are immediately payable in full.

A Central Depository (CDP) account is required for an application, and unsuccessful applications will be refunded in full.

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