Temasick in DEEP SHIT, Borrows Another USD500M!

[makapaaa]

<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Sporns to shoulder the debt!

Published November 18, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Temasek in US$500m global bond issue

By CONRAD TAN
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TEMASEK Holdings is raising US$500 million by selling 30-year US dollar bonds to institutional investors worldwide - its second large bond issue in a month.

The bonds will pay fixed interest of 5.375 per cent a year until they mature in 2039. They are rated triple-A - the highest grade possible - by credit-rating agencies Standard & Poor's and Moody's Investor Services.
The bonds are priced to yield 1.15 percentage points more than 30-year US Treasury bonds and are being re-offered to investors at a slight discount to yield a return of 5.441 per cent a year, Temasek said in a statement.
They are the longest-dated bonds issued by Temasek so far, and the third series under a US$5 billion medium-term note programme it started in 2005.
Last month, Temasek sold US$1.5 billion of US dollar bonds paying fixed interest of 4.3 per cent a year and maturing in October 2019. In 2005, it sold US$1.75 billion of US dollar bonds paying fixed interest of 4.5 per cent a year and maturing in September 2015.
Further issues are likely. Temasek chief executive Ho Ching said in May that it plans to issue bonds of varying maturities. The spread - or extra yield - on the bonds, compared with traditional benchmarks such as US Treasuries, will reflect investors' perception of Temasek's creditworthiness.
This will serve as a public signal of Temasek's financial position and credit risks that will bind its strategic actions and commercial choices, Ms Ho said at the time. 'We hope to establish a series of different tenured bonds for a more robust and nuanced signal over the longer term,' she added.
As with the earlier issues, the bonds will be listed on Singapore Exchange.
Net proceeds from the sale of the bonds will be used by Temasek and its subsidiaries to fund their ordinary course of business, Temasek said. Deutsche Bank, Goldman Sachs and Morgan Stanley are managing the sale.
All the bonds under the US$5 billion medium-term note programme are fully and unconditionally guaranteed by Temasek.
The bonds will be issued by Temasek Financial (I), a wholly owned unit of Temasek that was set up in 2004 to issue notes under the bond programme.
The offering is scheduled to close on Nov 23.
</TD></TR></TBODY></TABLE>

 

[singveld]

other than indonesian corrupt officials, china corrupt officials, and drug dealers, who want to touch HC 30 yrs bonds??

 

[god_zeus]

30 yrs is a LONG TIME

HO CHING BY THAT TIME MAYBE DIE ALREALI

SOdont have the guilt of not paying back at maturity

<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Sporns to shoulder the debt!

Published November 18, 2009

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Temasek in US$500m global bond issue

By CONRAD TAN
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right> </TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right> </TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right> </TD><TD>Feedback</TD></TR><TR class=font10><TD colSpan=2><!-- AddThis Button BEGIN --> <SCRIPT type=text/javascript src="http://s7.addthis.com/js/250/addthis_widget.js#pub=xa-4ae026ba0e05c08d"></SCRIPT><SCRIPT type=text/javascript> var addthis_config = { username: "xa-4ae026ba0e05c08d", services_compact: 'facebook, twitter, favorites, myspace, google, digg, live, delicious, stumbleupon, more', services_exclude: 'print', data_use_flash: false } </SCRIPT> <!-- AddThis Button END --></TD></TR></TBODY></TABLE>
TEMASEK Holdings is raising US$500 million by selling 30-year US dollar bonds to institutional investors worldwide - its second large bond issue in a month.

The bonds will pay fixed interest of 5.375 per cent a year until they mature in 2039. They are rated triple-A - the highest grade possible - by credit-rating agencies Standard & Poor's and Moody's Investor Services.
The bonds are priced to yield 1.15 percentage points more than 30-year US Treasury bonds and are being re-offered to investors at a slight discount to yield a return of 5.441 per cent a year, Temasek said in a statement.
They are the longest-dated bonds issued by Temasek so far, and the third series under a US$5 billion medium-term note programme it started in 2005.
Last month, Temasek sold US$1.5 billion of US dollar bonds paying fixed interest of 4.3 per cent a year and maturing in October 2019. In 2005, it sold US$1.75 billion of US dollar bonds paying fixed interest of 4.5 per cent a year and maturing in September 2015.
Further issues are likely. Temasek chief executive Ho Ching said in May that it plans to issue bonds of varying maturities. The spread - or extra yield - on the bonds, compared with traditional benchmarks such as US Treasuries, will reflect investors' perception of Temasek's creditworthiness.
This will serve as a public signal of Temasek's financial position and credit risks that will bind its strategic actions and commercial choices, Ms Ho said at the time. 'We hope to establish a series of different tenured bonds for a more robust and nuanced signal over the longer term,' she added.
As with the earlier issues, the bonds will be listed on Singapore Exchange.
Net proceeds from the sale of the bonds will be used by Temasek and its subsidiaries to fund their ordinary course of business, Temasek said. Deutsche Bank, Goldman Sachs and Morgan Stanley are managing the sale.
All the bonds under the US$5 billion medium-term note programme are fully and unconditionally guaranteed by Temasek.
The bonds will be issued by Temasek Financial (I), a wholly owned unit of Temasek that was set up in 2004 to issue notes under the bond programme.
The offering is scheduled to close on Nov 23.
</TD></TR></TBODY></TABLE>

 

[DOM the Clown]

Why would Temasick need to borrow money? It shows that is has no cash left.

 

[tun_dr_m]

But USA is in deeper shit then you, much deeper. So you dont need to feel so bad OK? More shit to come in time and soon.

 

[SotongMee]

Indians, Russians, East Europeans and Africans.

other than indonesian corrupt officials, china corrupt officials, and drug dealers, who want to touch HC 30 yrs bonds??

 

[MarrickG]

If she fails again, just look for another 'Goodyear' to cocver loh. Just pay more and someone would be willing to take the shit.

 

[flyingdagger]

where is the proof?

 

[Watchman]

Sell you Bonds then devalues the SG currencies !

 

[cooleo]

OH dear Ho Jinx need more capital to punt Big/Small in stock market again!

 

[tanboonlock]

no wonder tmk is so rich!

 

[shelltox]

borrow in us$, next time pay in banana $$ , very smart of them.

 

[Devil Within]

<
TEMASEK Holdings is raising US$500 million by selling 30-year US dollar bonds to institutional investors worldwide - its second large bond issue in a month.

Temasek is selling 30year USD bonds? Great move! USD is going down the drain and in 30years time, it would be worthless. Looks like Temasek is getting rid of it's USD bond holding. Problem is, who would be stupid enough to buy from them?

 

[IR123]

My feeling is that if Temasek is getting rid of its stock of US$ bonds, then it is a good thing for Singapore.

However I am not sure if Temasek is selling off its US$ bonds or issuing new bonds in its name. (Can someone here enlighten, preferably someone who does not fabricate data)

If it is the lattar, then it is a matter of concern. Why the need for more money? Temasek invests the nation's money. Why should they borrow to invest?

 

[scroobal]

Nothing to do with US govt or their treasury bonds. These are Temasek issued bonds (IOUs) denominated in US dollars. The reason they are preferably denominated in US dollars is make selling to foreign institutions much easier.

Temasek is trying to make up for all the mistakes that they have made all these years including the Barclays debacle. With the new funds they are hoping to purchase undervaled assets impacted by global financial crisis. Then Ho Ching can claim that she saved Singapore. Its not rockets science.

The Middle East Sovereign Funds have done much better than Temasek.

This lady instead of investing the State's liquid assets has now moved to gambling by seeking capital from foreign institutions. To be prudent, they should confine Temasek to only invest in state assets. If they want to play the commercial, they should launch a separate vehicle where accountability and transparency is as clear as private commercial vehicles.

Temasek is selling 30year USD bonds? Great move! USD is going down the drain and in 30years time, it would be worthless. Looks like Temasek is getting rid of it's USD bond holding. Problem is, who would be stupid enough to buy from them?

 

[Communist]

Lady? what lady? Mr. Ho Ching?

 

[Debonerman]

Bump! Up up and away!

 

[Sun Wukong]

shame shame shame!

 

[Da Ji]

Temasick pok kai liao!

 

[Cestbon]

More than 5% interest that really high. Mean Temasek is in deep shit no more money, they can have choice of getting bank loan which is about 2% current market no bank want to loan. And Temasek can loan from CPF board which I think is also empty now.
Or Temasek can gain if world market interest rate increase more than 5% that was what I think Temasek betting on. If this really happen all property owner loan money from bank are in deep shit.
So which ever tail/head Sinkie are fuck.