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SINGAPORE – Singapore state investor Temasek Holdings (Private) Ltd raised $2.75 billion (S$3.75 billion) from a clutch of long-dated dollar bonds, including its longest tenor of 50 years, as part of its $25 billion guaranteed global medium-term note programme.
Temasek’s move is part of a growing trend of companies in Asia selling longer-dated tenures, driven by demand from pension funds and others looking for assets that match their far-distant liabilities.
Globally, record-low interest rates have reduced the cost for companies carrying out the deals.
“There was strong support for the bonds from high-quality institutional, accredited and/or other specified investors globally,” Temasek said in a statement on Wednesday.
Temasek Financial (I) Ltd, Temasek’s wholly owned subsidiary, had launched the three tranche offering comprising a 10-year, a 30.5-year and a 50-year bond on Tuesday.
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