• Proposed offer of up to S$350 million, with potential upsize to a maximum of S$500 million
• Bookbuilding with specified investors commencing shortly for placement tranche
• Public offer tranche to be open to retail investors in Singapore in due course

Singapore, 15 November 2021, 9.30am – Temasek Holdings (Private) Limited (“Temasek”) is proposing to offer new 5-year bonds through its wholly-owned subsidiary, Temasek Financial (IV) Private Limited (the “Issuer”), under the Issuer’s S$5 billion Guaranteed Medium Term Note Programme.

The new T2026-S$ Temasek Bond is expected to comprise up to S$350 million in aggregate principal amount of 5-year guaranteed notes maturing in 2026. If there is oversubscription, Temasek and the Issuer may upsize the offer up to a maximum of S$500 million.

The T2026-S$ Temasek Bond is intended to be listed on the Singapore Exchange Securities Trading Limited.

The T2026-S$ Temasek Bond will be unconditionally and irrevocably guaranteed by Temasek.

The proposed offer is expected to commence after a bookbuilding process and will include a placement tranche for institutional, accredited and other specified investors, and a public offer tranche for retail investors in Singapore.

The T2026-S$ Temasek Bond will be issued in denominations of S$1,000. The issue price of the T2026-S$ Temasek Bond is intended to be S$1,000.

For the placement tranche for specified investors, it is intended that applications must be in multiples of S$250,000, subject to a minimum subscription of S$250,000.

For the public offer tranche for retail investors in Singapore, it is intended that applications must be in multiples of S$1,000, subject to a minimum subscription of S$1,000.

Bookbuilding commencing shortly

A bookbuilding process with institutional, accredited and other specified investors will commence shortly, with an initial interest rate guidance of 1.86% area per annum.

Further details on the offer will be announced in due course after the bookbuilding process.

Background on Credit Rating

Temasek has been assigned an overall corporate credit rating of “Aaa” by Moody’s Investors Service, Inc. (“Moody’s”) and “AAA” by S&P Global Ratings, a division of The McGraw-Hill Companies, Inc. (“S&P”). The T2026-S$ Temasek Bond is expected to be rated “Aaa” by Moody’s and “AAA” by S&P. A credit rating is not a recommendation to buy, sell or hold the T2026-S$ Temasek Bond. The credit ratings are not intended for use by retail investors, and retail investors should not consider the credit ratings in making any investment decision. All investors should contact their professional advisors before making any decisions based on the credit ratings.

Not for distribution in the United States or to U.S. persons

This announcement is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. No portion of the proposed offering is intended to be registered in the United States, and no offering is intended to be conducted in the United States. The T2026-S$ Temasek Bond may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons.

In the European Economic Area (the “EEA”), this announcement is only directed at persons who are “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation (EU 2017/1129) as amended (the “Prospectus Regulation”).

In the United Kingdom (“UK”), this announcement is only directed at “qualified investors” within the meaning of Article 2(e) of the Prospectus Regulation as it forms part of domestic law in the UK by virtue of the European Union (Withdrawal) Act 2018, as amended, who are also persons (i) that have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); (ii) falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order or (iii) to whom this announcement may otherwise be directed without contravention of Section 21 of the Financial Services and Markets Act 2000, as amended (all such persons together being referred to as “relevant persons”). This announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

No PRIIPs key information document or UK PRIIPs key information document has been prepared as the offering is not available to retail investors in the EEA or the UK.

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Contact Us

For general enquiries, please contact bond@temasek.com.sg