Temasek Holdings Hires Banks to Sell 10-Year Bonds in Dollars
According to Bloomberg, “Temasek Holdings Pte, Singapore’s government-owned investment company, hired Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley to help it sell 10-year bonds in U.S. dollars.
The sale will be benchmark, Temasek said in a stock market filing today, without being more specific about the size. Benchmark typically means at least $500 million.
‘We’re not expecting any major acquisitions but obviously that’s what this company is all about,’ Standard & Poor’s credit analyst Manuel Guerena said in a phone interview from Singapore. ‘These bonds will help extend Temasek’s debt maturity profile, and I guess it’s a bit of a signal to the market that the volatility in equity markets over the past year or so hasn’t affected Temasek’s financial rating.'”
read more: Bloomberg
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