First Temasek bond for retail investors oversubscribed by more than 8 times

SINGAPORE — Temasek Holdings’ first-ever bond offered to retail investors were oversubscribed by more than eight times.

The Singapore investment firm received valid applications totalling S$1.68 billion for the S$200 million of bonds on public offer, after applications closed at noon on Tuesday (Oct 23), it said in a filing to the Singapore Exchange later that day.

The applications will be balloted and allocated on Wednesday, and results will be announced in the evening. Unsuccessful applications will be refunded.

Temasek announced that it would be offering its T2023-S$ Temasek Bond to retail investors last Tuesday, with another placement of S$200 million of bonds for institutional investors.

Analysts had expected the five-year bonds to be snapped up. 

They are expected to be issued on Oct 25 and have a fixed interest rate of 2.7 per cent.

The bonds are offered under the firm's subsidiary Temasek Financial (IV)’s S$5 billion Guaranteed Medium Term Note Programme, and are guaranteed by the firm.