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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials

SingTel’s $700 mln bond prices tightly thanks to Temasek halo

Posted on 02 March 2012

Singapore Telecommunications (SingTel) early this morning priced a $700 million five-and-a-half-year bond, attracting strong demand from high-quality accounts. The bonds priced at Treasuries plus 150bp, about 12.5bp inside the initial guidance, which was around Treasuries plus 162.5bp.
The Temasek-linked firm is the incumbent telco in Singapore and, thanks to its parentage and high rating, investors expected the deal to sail through. “The SingTel deal will do well. It’s a quasi sovereign name and there is a lack of paper so there will be a lot of demand from long-only accounts,” said one Hong Kong-based fund manager on Thursday afternoon………………………………………….Full Article: Source


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