Temasek's Singapore Technologies Telemedia selling perpetual issue

SINGAPORE Technologies Telemedia (STT) has announced on Thursday a new Singapore dollar perpetual issue with an initial price guidance of low 5 per cent.

The new issue is NC5 which means it won't be called or redeemed before year five, according to the term sheet seen by The Business Times.

There is a 100 basis point step-up and reset from year 10.

STT is a strategic investor focused on investing in, operating and managing a portfolio of companies and investments in the communications, media and technology space globally. STT's key business segments comprise communications and media services, enterprise services, data centres and emerging technologies.

STT is a wholly owned subsidiary of Temasek Holdings.