Temasek's 10-year US$ bond offering lets it enjoy favourable refinancing

Singapore

TEMASEK Holdings' planned offering of 10-year US dollar-denominated bonds could allow the Singapore investment firm to effectively refinance existing debt at a favourable interest rate.

Initial price talk on the deal was for a yield spread of 90 to 95 basis points over US Treasuries. With the benchmark 10-year US Treasury trading at a yield to maturity of about 2.9 per cent on Wednesday, the initial …