Temasek's US denominated bonds oversubscribed by 4.5 times

Singapore investment company Temasek Holdings has priced its 10.5-year and 30-year US denominated bonds. 

All in, Temasek expects to sell S$1.7 billion worth of bonds in the two issues. 

In a statement released on Tuesday Temasek says the 10.5-year bonds will be priced at a spread of 100 basis points over the 10-year benchmark US Treasuries, with a yield to maturity of 2.466% per annum. 

It's selling $1.2 billion worth of the 10.5 year bonds. 

Temasek will also sell US$500 million worth of 30-year bonds, priced at a spread of 95 basis points over the 30-year benchmark US Treasuries, with a yield to maturity of 3.502 percent per annum. 

UBS, one of the lead managers and bookrunners for the deal, told Channel NewsAsia that the two issues were 4.5 times oversubscribed. 

Benny Koh, Temasek's Treasury Head said, "We are pleased with the strong support from our global investor base. Both issues were oversubscribed, with robust demand from high-quality investors." 

The coupon rate for the 10.5-year tranche is 2.375 percent per annum, and 3.375 percent per annum for the 30-year tranche. 

The Temasek bonds are rated AAA by S&P and Aaa by Moody's. 

The offering is scheduled to close on 23 July 2012.