| Temasek Holdings Pte is selling as much as S$600 million ($467 million) of bonds exchangeable into shares of Li & Fung Ltd. (494), the Singapore state-owned investment company’s second equity-linked debt sale in two months.
Temasek, rated AAA by Standard & Poor’s, sold S$500 million of the zero-coupon bonds maturing in 2013, according to a Singapore stock exchange filing today. The bonds are exchangeable into Li & Fung stock at a 40 percent premium to yesterday’s closing price. Credit Suisse Group AG (CSGN), the sale’s arranger, has the option of offering a further S$100 million within 30 days of settlement, according to the filing...............................................Full Article: Source |