Temasek Financial (I) Ltd, a wholly owned subsidiary of Singapore state investment company Temasek Holdings, is launching an offering comprising five-year, 10-year and 30-year offshore renminbi bonds on Wednesday.
The company said in a statement that the bonds, to be issued by Temasek Financial (I) under its $25 billion guaranteed global medium-term note programme, will carry an unconditional and irrevocable guarantee from Temasek.
Temasek added that it holds an overall corporate credit rating of “Aaa” by Moody’s and “AAA” by S&P.
Temasek Financial (I) plans to use the proceeds from the bond issuance to support Temasek and its investment holding companies in funding their regular business activities.
The statement also indicated that an application will be made to list and quote the bonds on the Singapore Exchange.
Reuters
