Temasek Financial, the wholly-owned subsidiary of Temasek Holdings, has launched a 10-year fixed-rate bond denominated in Singapore dollars.
The offering is priced in the 2.7% area, providing a clear benchmark for long-dated corporate credit in the region's primary currency.
The move comes as Singapore's sovereign debt market continues to deepen, with the city-state recently preparing a $2.
The move comes as Singapore's sovereign debt market continues to deepen, with the city-state recently preparing a $2.1 billion green bond issuance with a 20-year maturity.
The corporate issuance by Temasek Financial adds to the liquidity in the SGD bond market, offering investors a high-quality credit alternative to sovereign paper.
Proceeds from the bond issuance will be used to fund the ordinary course of business for the financial arm of the sovereign wealth fund.
The pricing reflects the current stability in the Singapore dollar yield curve, where long-dated rates have remained relatively flat amid steady demand from institutional investors.