Finance

Temasek upsizes medium-term note programme to US$25b

Mon, Sep 14, 2020 – 1:42 PM

UPDATED Mon, Sep 14, 2020 – 3:02 PM

TEMASEK Financial (I) Limited (TFin-I), a wholly-owned subsidiary of Singapore investment firm Temasek Holdings, has increased the limit of its guaranteed global medium-term note programme to US$25 billion, from US$20 billion previously.

Net proceeds from issuing notes under this programme will be provided to Temasek and its investment holding companies to fund their ordinary course of business, unless otherwise disclosed in the relevant pricing supplement.

TFin-I has 15 series of notes with a total of S$12.1 billion outstanding under the programme, it said in a press statement on Monday.

The programme's limit was last increased from US$15 billion in July 2018.

In another statement, S&P Global Ratings said the latest upsizing does not affect its AAA rating on the programme, which is unconditionally and irrevocably guaranteed by Temasek.

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