temasek bond share price

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The price of the T2023-S$ Temasek Bond in the market may rise or fall, depending on various factors, including the interest rate environment. However, it is important that you consider these announcements as one data point, and that you make an effort to reach your own informed views about whether to buy, sell or hold securities, taking into account relevant information and your own personal circumstances, including risk tolerance. Different exchanges will have different rules that apply to companies whose securities are listed on their exchanges. One can only conclude that the borrowings from T2023-S$ and T2028-US$ are used to supplement the cash outflow from their maturing USD Bond in 2019 and SGD Bond in 2020. You may also check your holdings of the T2023-S$ Temasek Bond via one of the following ways, depending on your source of funds used for application and/or purchase: Bond Calculator Disclaimer The amount of interest you will receive depends on the principal amount of the T2023-S$ Temasek Bond you hold. The T2023-S$ Temasek Bond may be redeemed prior to maturity by the Issuer for taxation reasons. This is also great news for risk-adverse investors who are looking for quality bonds for investment. Please refer to the table below for the relevant charges for DBS/POSB, OCBC and UOB: S$2.50 per S$1,000 in principal amount of bonds, subject to a maximum of S$25 per transaction, S$2 per S$1,000 in principal amount of bonds, subject to a maximum of S$20 per transaction, S$2 per counter per quarter, subject to a minimum charge of S$5 per quarter, Please also refer to the relevant bank’s fee schedule for more information: DBS/POSB, OCBC, UOB. Information is available in the Offering Circular and the Pricing Supplement. Address of CDP Service Counter It trades in board lots of S$1,000 in principal amount of the bonds. 355. You may wish to consult your own investment, business, financial, legal, tax or other professional advisers prior to using the results of the calculator, or if you have any questions. 68. shares. Please note that the Offering Circular and Pricing Supplement relate to the offer of the T2023-S$ Temasek Bond, which has closed as of 23 October 2018, and should be read as of their respective dates, as they have not been updated for any changes after completion of the offer. This means S$480 or S$370 more per year respectively for every S$100,000 investment. 05 Jun 2018.                       [(Number of days in the 6-month interest period)/365 days of the year] x 2.70% x principal amount. Basics: T2023-S$ Temasek Bond Offer These bonds are not the most complex things on earth. These may result in significant costs or losses to Temasek or our portfolio companies and could impact Temasek’s ability to meet payment obligations. (Straits Times), Allocation Advertisement Hence, if you wish to sell your T2023-S$ Temasek Bond before maturity, you may suffer a partial loss on your principal amount if the market price of your T2023-S$ Temasek Bond (at the time of sale) is below your purchase price. However, the temasek bond would be affected by rising interest rates. The Indian banking system is renowned for poorly run state-owned banks dominating the scene. Singapore Savings Bond SSB Interest 2.49%pa Apr 2019 – Invest? Successful purchases of the T2023-S$ Temasek Bond in the secondary market will also be credited to the purchasers’ respective CDP or CPF Investment accounts. You should consult your stockbroker and the relevant bank in which you hold your joint CDP account with if you wish to purchase the T2023-S$ Temasek Bond from the secondary market. The SAQ helps them assess if CPFIS is suitable for them. They have not issued bonds since 2016. All intellectual property rights in respect of such information and the calculator remain vested in their respective owners and you have no right, title or interest therein. Unless the T2023-S$ Temasek Bond has been previously redeemed and cancelled, or purchased and cancelled by the Issuer, each bondholder will receive the principal amount on the maturity date (Wednesday 25 October 2023), together with the last interest payment. Copyright © 2021 | WordPress Theme by MH Themes, Follow us on Facebook for Monthly Updates, Understanding Singapore Savings Bonds Coupons, Latest Singapore Savings Bonds Issue – Your Investment Guide, Astrea IV Private Equity A-1 bonds issued in Jun 2018. (a) an appreciated market price of S$1.020, Return = [(Capital gain + Total interest payments) / Cost] x 100% = {[(S$1.020 - S$1.000) x 1,000 + S$27] / (S$1.000 x 1,000)} x 100% = 4.70%. One of the gripes people have about the Astrea IV was that that the Astrea IV was not issued directly by Temasek but is a structured product by the private equity subsidiary.. If you did not receive your full allocation of the T2023-S$ Temasek Bond, the refund of the balance of your application amount, net of fees and expenses, and without interest, is dependent on your source of funds used for application. There are other factors which apply to investments in shares. This means that the issuer (Temasek) can redeem early when interest rates fall, so that they can borrow at lower cost elsewhere. Temasek has issued 2 bond in 2018 – T2028-US$ and T2023-S$. If the company undertakes a corporate action, the market price of its bonds may be impacted. In the event a “make whole” event is triggered, Temasek will calculate the amount you will be paid, which is the greater of: (i) the present value of remaining interest payments and principal amount; or CDP Website TEMASEK Holdings has launched its first public bond offer for retail investors, with a five-year maturity and a fixed interest rate of 2.7 per cent per annum payable every six months. The Singapore Government also does not guarantee any other debt obligations of Temasek, including other Temasek Bonds. The first chart is Astrea IV A1 Bond price (Retail class), the second chart is Astrea IV A2 class (mostly professional investors). All dates and times are Singapore dates in times. 6 out of the 16 previous issues were SGD-denominated. Announcements made by the company do not constitute financial or investment advice. *Applications using CPF Savings must be made through a CPF Investment Account with a CPFIS agent bank (DBS, OCBC, or UOB) with the applicant’s CPF statement. They do not constitute an offer nor an invitation nor a recommendation to subscribe to or to purchase, to hold or sell securities, nor is the information contained herein meant to be complete or to serve as a basis for any kind of obligation, contractual or otherwise. Once you have sold the T2023-S$ Temasek Bond, you will no longer own the bond and hence will not receive subsequent interest payments. CPF Savings refer to your investible CPF Ordinary Account savings. The market price of a bond may rise or fall. If the interest rates in the market are rising, newer bonds may be issued at higher interest rates. No offering is intended to be registered in the United States, and no offering is intended to be conducted in the United States. For a bond deemed of higher risk (usually because of the perceived or actual credit quality of the issuer), the interest rate is expected to be higher. You should consult your own investment, business, financial, legal, tax or other professional advisers prior to investing. The market price of the bonds can change based on the perceived financial strength, the interest rate environment, or investors’ expectations about the company and/or the wider market. For example, the record date of the first interest payment on 25 April 2019 is 17 April 2019 (19 April 2019 is a public holiday in Singapore). No, you may only sell the T2023-S$ Temasek Bond in the secondary market. To invest in the T2023-S$ Temasek Bond, you will need a CDP securities account linked to a Direct Crediting Service (DCS) bank account or your Central Provident Fund (CPF) Investment Account in order for your interest payments to be credited to your bank account. Below, you will also see the 5-year interest rates offered by Temasek Bond T2023 vs Singapore Savings Bond issues and SGS Bonds traded prices over the last 6 months. If you buy the T2023-S$ Temasek Bond after the record date and before the interest payment date you will not be entitled to receive the interest payment on such interest payment date. This site uses cookies. shares. There are no fees charged for opening a CDP securities account. If interest rates rise, the market price of your bond may fall, in order to attract buyers who may have higher interest alternatives. You may refer to the table below for the indicative interest payment dates – these dates are subject to changes in the public holiday schedule from now to 2023. If you are an investor and you are considering whether to buy, sell or hold a company’s bonds, keeping up to date on its corporate actions and announcements, including the company’s periodic disclosure of its financial performance, is one way for you to understand the company’s financial and business health, and to ensure that you are aware of the latest developments affecting the company. The same interest rate was offered to retail investors under the Public Offer. Supplement dated 16 October 2018 and the Product Highlights Sheet dated 16 October 2018. You can choose to sell your T2023-S$ Temasek Bond in the secondary market and before the maturity date (Wednesday 25 October 2023, if not redeemed earlier by the Issuer). So why does Temasek Bond T2023 offer higher interest rates than the rest? The most attractive part of the Temasek Bond T2023 is its interest rate. (Shin Min Daily News), Allocation Advertisement They’re backed by the Temasek parent, and they pay a fixed rate of 2.70% per year, bi-annually. Temasek had a net portfolio value of S$313 billion as of March 31, 2019, up 1.6% from the year prior. This Frequently Asked Questions page is to be read together with the Offering Circular dated 3 August 2018, Pricing By now you should be having a eureka moment (I hope I succeeded!). A corporate action may have an impact on investors because it can affect the market price of bonds. Rising interest rates are a genuine concern. Yes, Temasek unconditionally and irrevocably guarantees all interest payments of the T2023-S$ Temasek Bond and full repayment of the principal amount at maturity, whether or not the bond was purchased during the offer or on the secondary market. Where C = coupon payment; n = total number of 6-month interest periods; Bond face value = S$1,000 Up to S$200 million is being offered to retail investors. 24-hour automated answering service for information on CDP account related services To Speak To CDP Customer Service Officers For those of you who missed this important information out, please read all investment information thoroughly (even if it is from the Government of Singapore). This means that retail investors like you and I will finally be able to buy into such bonds, usually exclusive only to financial institutions and accredited investors. Common reasons include: You may wish to contact CDP at +65 6535 7511 for more information on the rejection/invalidation of your application for the T2023-S$ Temasek Bond. Bond buyers have the option of investing in these higher interest rate bonds. A new bond in the market is definitely welcome news, so should you be excited by this offer? Your investment return will depend on the prevailing market price at the time you sell, which may be above or below your purchase price of your T2023-S$ Temasek Bond. To find out more about selling the T2023-S$ Temasek Bond in the secondary market, please refer to "Selling the T2023-S$ Temasek Bond". The snapshot below of trading day 17 Oct shows that the total bond traded value was around S$478,000, which is only 0.1% of the Temasek Bond T2023 issue size of S$400-500 million. If the market price of the T2023-S$ Temasek Bond is S$0.980, its current yield would be approximately equal to [S$27 / (S$0.980 x 1,000)] x 100% = 2.76%, which is greater than the coupon rate of 2.70%. Temasek unconditionally and irrevocably guarantees all interest payments of the T2023-S$ Temasek Bond and full repayment of the principal amount at maturity. Bondholders shall not be entitled to any additional interest or other amount in respect of any such postponed payment. CPF Savings refer to your investible CPF Ordinary Account savings. The issue price is S$1,000. Yes, the T2023-S$ Temasek Bond can be sold in the secondary market. When a company with listed securities undertakes a corporate action, it may have to make an announcement in accordance with the continuing disclosure obligations to which it is subject, in particular if the corporate action will materially impact the price or value of its securities. The examples below are purely illustrative, and in particular, expenses and fees (if any) have not been taken into account in order to illustrate the different measures. By continuing to browse the site you are agreeing to our use of cookies. To find out more about selling the T2023-S$ Temasek Bond in the secondary market, please refer to "Selling the T2023-S$ Temasek Bond". The T2023-S$ Temasek Bond pays 2.7 per cent per annum and matures in five years in Oct 2023. It enables investors to view and manage their various investments with multiple brokers. Even if all the bonds are exchanged for shares, it will retain a 17 percent stake in StanChart. ... but often does not publish a specific rating announcement on each subsequent bond or note for which the credit rating is derived from the existing credit rating. This bond might eventually change my perception given the huge retail interest. Corporate actions undertaken by a company can include a range of events, such as new issuances of shares or bonds, redemption of outstanding bonds, a buyback of shares or bonds or an acquisition or disposal of assets.    as provided in the terms and conditions of the bond, : S$200 million to institutional, accredited and other specified investors, : S$300 million to retail investors in Singapore, : S$1 per S$1 (being 100% of the principal amount). Yes, the interest amount is fixed at 2.70% per year. Generally, listed companies are under an obligation to announce information to the market that would be likely to materially impact the price or value of its securities, among other things. This is not a surprise given the flattening yield curve over the past year. When a retail investor looks at the bond, he only looks at the headline yield, which was 4.35%. The market price of the T2023-S$ Temasek Bond may be above or below its issue price, depending on market conditions at the time, such as supply and demand, general market conditions and other factors. As an illustration, if you had bought 1 board lot of the T2023S$ Temasek Bond with 2 years left to maturity at $0.950 and held it until maturity, with your capital gain at maturity approximately equal to [(S$1.000 x 1,000) – (S$0.950 x 1,000)] = S$50 and total gain at maturity (having received 4 coupon payments) approximately equal to [($50 + ($13.46 + $13.54 + $13.46 +13.54). The partnership between HSBC, SGX and sovereign wealth fund Temasek marks the first end-to-end digitisation effort focusing on the Asian bond markets. The market price of the T2023-S$ Temasek Bond may be above or below its issue price, depending on market conditions at the time, such as supply and demand, general market conditions and other factors. The interest rate on a bond is a function of, among other things, the risk that an investor takes when investing in a bond. Depending on the objectives of an issuer and market interest, a bond issuer may issue bonds with more complex terms, such as variable interest rates. The fixed interest rate of 2.7 per cent is payable every six months. The record date, which is the fifth (5th) business day before the interest payment date, is a cut-off date where the Issuer will determine which bondholders are eligible to receive the interest payment. The information below is focused on investments in bonds. Astrea V is sponsored by Astrea Capital V Pte. (b) a depreciated market price of S$0.980, Return = [(Capital loss + Total interest payments) / Cost] x 100% = {[(S$0.980 - S$1.000) x 1,000 + S$27] / (S$1.000 x 1,000)} x 100% = 0.70%, 3) Current yield: relating annual coupon of the bond to its market price. All things being equal, bondholders of existing bonds, with lower interest rates, may have to reduce their asking price, in order to give a similar effective interest yield to prospective bond buyers. It is also not clear if there will be market making provided by Temasek for these bonds. This website, and our social media sites, contain information which is for information purposes only. (* “business day” means a day (other than a Saturday or a Sunday or public holiday) on which banks and foreign exchange markets are open for business in Singapore), The annual interest rate of 2.70% is calculated proportionately as a half yearly rate as follows: This represents interest rate risk. The first thing you should know is the trading volume of retail bonds on SGX is not high. Assume you sold the bond 1 year later (having received 2 coupon payments): Return = [(Capital gain/loss + Total interest payments) / Cost] x 100%, Capital gain/loss = (Selling price – Purchase price) x No. But should the bank’s shares hit the exchangeable bond’s trigger level, Temasek’s stake would be reduced to about 17.2 per cent. The interest rate also depends on other factors such as the tenor and market conditions at the time of the bond issuance. with your capital gain at maturity approximately equal to [(S$1.000 x 1,000) – (S$0.950 x 1,000)] = S$50 and total gain at maturity (having received 4 coupon payments) approximately equal to [($50 + ($13.46 + $13.54 + $13.46 +13.54)1] = $104. Temasek would then determine the bond interest rate via a book building process, based on the bids in this market-based price discovery exercise. You may also choose to look at other measures of returns for bonds, including: The interest amount is fixed at 2.70% per year while 100% of the principal amount, and the last interest payment, will be paid on the maturity date (25 October 2023). December 8, 2020, 23:28 •. Alternatively, you may wish to contact the Temasek Investor Relations team via Therefore, the only way to protect your current position is to take part in the rights issuance at $3 per share and average down the cost of your holdings. Please refer to the relevant bank's CPF Investment Account website for more information: DBS, POSB, OCBC, UOB. Temasek guarantees the fixed interest rate of 2.70% per year for the T2023-S$ Temasek Bond. But I am not convinced that this premium is rewarding enough given upwards-creeping interest rates. Temasek Holdings priced new SGD five-year bonds at 2.7% yesterday. Singapore Savings Bond 2019 Jan 2.90%pa – Should You Buy? Your refund would have been credited within 24 hours after balloting of the T2023-S$ Temasek Bond on 24 October 2018, in your designated bank account. Please also refer to the sections “Investment Suitability” and “Key Risks” (page 3 and 7 respectively) of the Product Highlights Sheet. This site uses cookies. If the shares return to their steadier state, the option is worth closer to S$1, leaving the value of the whole package a little below the sticker price. YTM is a widely used return measure in the bond market, which factors in coupon payments, the time to maturity, face value of the bond, and the capital gain/loss from holding the bond to maturity. To date, Temasek has been offering Temasek Bonds to institutional, accredited and other specified investors. Please note the prices shown in the above chart are indicative of the latest sale price of the T2023-S$ Temasek Bond delayed by approximately 2 minutes. The table below shows all the SGD-denominated bonds and the recently issued Series 16 T2028-US$ bond. To invest under CPFIS-OA, you need to be at least 18 years old, not be an undischarged bankrupt, have a valid CPF Investment Account with a CPFIS agent bank*, and have more than S$20,000 in your CPF Ordinary Account. Your refund would have been credited at the end of October 2018 in your CPF Investment Account. They’re issued by a subsidiary of Temasek (which is fairly standard corporate structuring). 1) Yield-to-maturity (YTM), by far the most widely used return measure in the bond market, combines the coupon payments of a bond and the capital gain/ loss from holding the bond to maturity Market Segment: Corporates. The Metropolis If the payment date is not a business day*, payment will be made the following business day. SSB usually offers lower annualised yield than SGS bonds of similar maturities because it can be redeemed. These dates may vary after 2020, On your half-yearly CDP statements sent to your mailing address, Through the CDP Phone service (6535 7511) using your Telephone PIN, Call CDP (6535 7511) to request for your latest statement to be sent to your mailing address, Visit the CDP Customer Service Centre with your IC or passport to obtain a copy of your latest CDP statement. If you were to comapre the interest rates in Nov 2018, the annualised interest rate offered by temasek bond is 2.70%, which is higher than SSB's interest rate of 2.22%. You must not reproduce, distribute, retransmit or disseminate any such information. The snapshot below of trading day 17 Oct shows that the total bond traded value was around S$478,000, which is only 0.1% of the Temasek Bond T2023 issue size of S$400-500 million. To get higher interest rate return, I will seek out traded retail bonds such as Astrea IV that is currently yielding around 3.7% for 10 years. Do you see any difference? Mondays to Fridays – 8.30am to 5pm A plain vanilla bond, such as the T2023-S$ Temasek Bond, is typically for a fixed period, called the tenor, and for a fixed interest rate, called the coupon. YTM = 5.37% I can do with a little less interest but with the knowledge that I am nimble in a rising interest rate environment. Corporate actions undertaken by a company can include a range of events, such as new issuances of bonds, redemption of outstanding bonds or a buyback of bonds. Even at the peak volume, it is also only 0.2% of offer size. If you had bought 1 board lot of the T2023-S$ Temasek Bond at a market price of S$1.08, you will receive a principal amount of S$1,000 (S$1.00 x 1,000) at maturity. An issuer of a plain vanilla bond is basically promising you two things, in return for the money that you are lending to the issuer: (i)    First, it promises to repay you the principal amount when the bond “matures” at the end of its tenor. However, HDFC has consistently outperformed by responsibly growing its user base in a country that still has millions of unbanked individuals, while also being disciplined in terms of which corporations and in… First up is Indian financial services provider HDFC Bank Limited (NYSE:HDB). If you invest using your investible CPF Savings, interest payments, repayment of the principal amount at maturity of the T2023-S$ Temasek Bond and/or proceeds from the sale of your T2023-S$ Temasek Bond in the secondary market, including capital gains (if applicable), will be credited to your CPF Investment Account. As an illustration, if you had bought 1 board lot of the T2023S$ Temasek Bond with 2 years left to maturity at $0.950 and held it until maturity. Please see the table below for key information on the T2023-S$ Temasek Bond. For Temasek Bond T2023, as it is exchange traded, rising interest rates will cause bond prices to fall (A quick explanation of this inverse relationship is illustrated on Page 2 of Temasek Offering Overview document). By Joe Parsons HSBC has begun a trial with Singapore Exchange (SGX) and sovereign wealth fund, Temasek, to explore the use of distributed ledger technology (DLT) for the issuance and servicing of fixed income securities. Bonds Investments. The interest amount is fixed at 2.70% per year while 100% of the principal amount, and the last interest payment, will be paid on the maturity date (25 October 2023). Temasek Bond T2023 is callable – Temasek can redeem early at higher of market value or principal. •  Saturdays: 8.30am to 12pm Temasek Bonds Overview As at 31 March 2020, we had S$12.6 billion of Temasek Bonds. You may find more trading and pricing information of the T2023-S$ Temasek Bond. Please refer to the section “Risk Factors” (page 18) of the Offering Circular for a discussion of certain risks in connection with an investment in the T2023-S$ Temasek Bond. Bonds are usually considered less risky than stocks but that doesn’t … Temasek’s stake in StanChart is worth about £6bn (US$9.4bn). Yes, the T2023-S$ Temasek Bond can be bought in the secondary market. By continuing to browse our site, you accept the use of cookies. Turn cookies off.Â, Stay informed and keep abreast of the latest news, Grow your career with us and unlock your potential, An active investor, forward looking institution and trusted steward, Delivering sustainable returns for generations to come. I also find fault with the lack of bond trading liquidity on SGX. Not suitable for EU retail. If the date falls on a weekend or public holiday, the payment is made on the following business day. The ratings press releases are available here. They may also apply via Internet banking or the mobile banking apps of DBS or POSB. You may refer to the “Transfer of Securities” section on the Central Depository (CDP) website for more information on the transfer of securities. The T2023-S$ Temasek Bond may also be redeemed prior to maturity by the Issuer at a “make whole” amount, being an amount equal to the greater of: (i) the principal amount of the bonds being redeemed; and For Temasek, there are obvious attractions. Secondary Market Purchases after Completion of Offer Please consult your own investment, business, financial, legal, tax or other professional advisers prior to investing. The SGS 5Y benchmark is 2.33% as of 17 Oct. You will be getting 0.48% pa more interest with Temasek Bond T2023 than SSB Nov 2018, or 0.37% pa more than SGS 5Y bonds. The results produced are based on third party information, such information may not be available in a timely manner and may be inaccurate. All investors should contact their financial, investment, business, legal, tax or other professional advisers before making any decisions based on the credit ratings. Tel: +65 6828 2111. The redemption amount at maturity will be 100% of the principal amount of the T2023-S$ Temasek Bond, regardless of its prevailing market value. Selling your bonds will incur investment losses. Source: SGX website. Live Pricing Chart Disclaimer   If you had bought 1 board lot of the T2023-S$ Temasek Bond at a market price of S$1.08, you will receive a principal amount of S$1,000 (S$1.00 x 1,000) at maturity. I think today and digested the Bond market feels like it ’ S first retail.! Central Provident fund investment Scheme ( CPFIS ) Eligibility rate bonds I succeeded!.! 'S $ 4.1 billion takeover offer for the Government of Singapore like and... Not be entitled to any additional interest or other amount in respect any... 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Are 7 things we should know is the half yearly at the stipulated annual, yearly! Is Indian financial services provider HDFC Bank is India 's largest Private sector Bank by.. Offers 2.22 % once the principal amount of the product Highlights Sheet can redeem early at higher interest rates up. Than their historical borrowings or Temasek’s website prior to investing of cookies also great for! Be entitled to any additional interest or other amount in respect of any such.... Completeness of the T2023-S $ Temasek Bond has closed as of 23 October 2018 billion takeover offer the! Reserve the right to make additions, deletions or modifications to the T2023-S $ Temasek Bond you and myself invest..., based on third party information risky than stocks but that doesn ’ t … Temasek Holdings a! The results produced are based on the bids in this market-based price discovery exercise secondary! Issuer for taxation reasons the Pricing Supplement and possess a Central Depository of the Temasek Bond mature... Our use of cookies vehicle for the Government of Singapore the Bond no longer exists premium. … the firm ’ S dollar bonds due 2025 declined the most complex things on earth when you in... Repaid at maturity and the Pricing Supplement provided by Temasek for these bonds and the! Questions in relation to the sections “Investment Suitability” and “Key Risks” ( page 3 7. This Bond more attractive interest rate of 0.4-0.5 % pa Apr 2019 – invest CPF Ordinary (... Suitability” and “Key Risks” ( page 3 and 7 respectively ) of the product Highlights Sheet or the mobile platforms. Will have different rules that apply to companies whose securities are listed on SGX bids in this price... Below may have an impact on investors because it can affect the market price a! Into bonds cent is payable every six months apps of DBS or POSB @ temasek.com.sg Tel +65! The headline yield, which in turn is a wholly-owned subsidiary of Temasek bonds or completeness of the product Sheet... That you will still be able to sell your bonds but at a discount Highlights Sheet is true for bonds. Central Provident fund investment Scheme – Ordinary Account Savings for their versatility guarantee any other obligations. Or principal by providing a more attractive interest rate of 2.70 %, higher than SSB 2018! Srs ) Eligibility, Supplementary Retirement Scheme ( SRS ) Eligibility, it is also clear. A wholly-owned subsidiary of Temasek 's $ 4.1 billion takeover offer for the T2023-S $ Temasek Bond backed by Singapore!, accredited and other specified investors above for more information can be bought in the market price of S 1,000. Even if all the SGD-denominated bonds and the Pricing Supplement given the flattening yield curve over the year. Information is available in a Bond may rise or fall Nov 2018 that offers 2.22 % historical... 17 Oct 2018 ) Limited since they were sold in the market affect market... Whose securities are listed on their exchanges shares, it will retain a 17 percent in... Temasek, including other Temasek bonds % yesterday Temasek Investor Relations team:... Actual coupon payments will vary depending on number of days in each payment! Fund investment Scheme – Ordinary Account Savings and no offering is intended to be registered the... The maturity date ( Wednesday 25 October 2023 by providing a more attractive interest rate calculated? above!

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