Singapore state-owned investment company Temasek said on Tuesday that the public-offer tranche of its five-year bond met with huge demand.
The up to S$200 million public offer of the 2.70 percent T2023-SGD bond received valid applications totaling S$1.676 billion by the close, representing a subscription rate of just over eight times, it said in a filing to SGX after the market close on Tuesday. This was the first time Temasek had offered retail bonds to Singapore investors.
Temasek said an allocation process will take place, with the results announced by Wednesday evening.
The investment company had announced earlier in October it would offer up to S$400 million of the guaranteed notes due 2023, which were subject to an upsize option which could bring the total up to S$500 million. The bonds will be issued via its wholly owned subsidiary Temasek Financial (IV), it said.
The offering had included a placement of S$200 million of bonds to institutional, accredited and other specified investors.