Temasek launches US$5bn euro-commercial paper programme

The commercial paper programme will supplement Temasek's strong liqudity and the proceeds will be used to fund their business.

According to Moody's, the commercial paper notes will be issued by Temasek Financial (II) Private Limited, a wholly owned financing subsidiary of Temasek. They will be irrevocably and unconditionally guaranteed by Temasek and rank pari passu with all other unsecured and unsubordinated debt of both the issuer and Temasek. The proceeds will be used to fund Temasek's ordinary course of business.

"The commercial paper program will supplement Temasek's strong liquidity," says Elizabeth Allen, a Moody's VP/Senior Credit Officer. "We expect that, in the near term, the average borrowings through the program will be modest."

Although the program is not backed by any committed credit facilities, Moody's draws comfort from Temasek's consistently excellent liquidity profile over the last few years. At the holding company level, it is often in a net cash position. Its liquidity profile is characterized by a high level of cash and liquid assets, as well as a long debt maturity profile. Its market reputation and good access to the bank market also support its liquidity.

In addition, Temasek's has a significant degree of financial flexibility in its investment spending and asset monetization plan. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.