Temasek-owned Vertex Venture Holdings raising S$450m in debt

TEMASEK-OWNED Vertex Venture Holdings, a private entity in the business of venture capital (VC), is issuing S$450 million of seven-year senior unsecured bonds with a 3.3 per cent coupon, The Business Times understands.

This is the first time Vertex is publicly issuing bonds, a check on Bloomberg showed. The funds raised will be used for refinancing of existing borrowings, redemption of any redeemable preference shares, financing of investments, general working capital and general corporate purposes, going by an investor presentation seen by BT on Wednesday.

DBS Bank is the sole lead manager and book runner for the issuance, which is being done under Vertex's S$2 billion multi-currency debt issuance programme.