SINGAPORE: Singapore's Temasek Holdings has mandated multiple banks for the proposed issuance of 5-year, 10-year and 30-year offshore renminbi multi-tranche bonds, according to an announcement on Tuesday.
The four banks, Credit Agricole, DBS Bank, HSBC and Standard Chartered, are joint lead managers and joint bookrunners for the proposed notes, to be issued by Temasek Financial (I) and guaranteed by Temasek Holdings, the mandate said.
The notes are expected to be rated Aaa (stable) by Moody's and AAA (stable) by S&P, similiar with the guarantor. Size of the issuance was not disclosed in the mandate announcement.
The last time Temasek priced offshore renminbi bonds was in August 2024.
Earlier this month, the Singapore state investor reported an 11.6% year-on-year jump in its net portfolio value to a record S$434 billion ($338.59 billion), and said risks from U.S. immigration, tariffs and fiscal tightening had likely peaked.
It also sees higher investment opportunities in Europe as the impact of trade tensions on the economic climate has made some companies more attractive on valuation grounds. - Reuters
