By Reshmi Basu
New York, Sept. 14 - Temasek Holdings Pte. Ltd. sold an upsized $1.75 billion offering of 10-year bonds (Aaa/AAA) at 99.403 with a 4½% coupon to yield 4.575%, or 44 basis points over Treasuries, according to a market source.
The deal was upsized from $1.5 billion, which was also increased from the original $1 billion size.
The issue priced in line with revised price guidance. Initial guidance had been set at 45 to 49 bps more than Treasuries.
Goldman Sachs, Deutsche Bank and Morgan Stanley were lead managers for the Rule 144A/Regulation S transaction.
Temasek owns and manages the Singapore government's direct investments, both locally and overseas.
| Issuer: | Temasek Financial Ltd.
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| Guarantor: | Temasek Holdings (Private) Ltd. (Singapore)
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| Amount: | $1.75 billion
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| Maturity: | Sept. 21, 2015
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| Coupon: | 4½%
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| Issue price: | 99.403
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| Yield: | 4.575%
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| Spread: | Treasuries plus 44 basis points
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 21
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| Lead managers: | Goldman Sachs, Deutsche Bank, Morgan Stanley
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| Ratings: | Moody's: Aaa
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| Standard & Poor's: AAA (expected)
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| Price guidance: | 45 to 49 basis points more than Treasuries
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