A&G News 5 November 2018

Allen & Gledhill advised on the issue of S$500 million 2.70 per cent. guaranteed notes due 2023 (the “Notes”) by Temasek Financial (IV) Private Limited (“Temasek Financial (IV)”) under its S$5 billion guaranteed medium term note programme.

The Notes are unconditionally and irrevocably guaranteed by Temasek Holdings (Private) Limited (“Temasek Holdings”). The offer of Notes comprised a placement to institutional and other investors and a public offer to retail investors in Singapore. This was the first offer of debt securities by Temasek Holdings which included a public offer to retail investors, and was the first offer of debt securities by an issuer pursuant to the Securities and Futures (Offers of Investments) (Exemption for Offers of Straight Debentures) Regulations 2016 introduced by the Monetary Authority of Singapore in 2016 to facilitate retail access to debt securities.

DBS Bank Ltd. (“DBS”), The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (“HSBC”), Oversea-Chinese Banking Corporation Limited (“OCBC”), Standard Chartered Bank (“SCB”) and United Overseas Bank Limited (“UOB”) were appointed joint lead managers and bookrunners for the Notes.

Advising Temasek Financial (IV) and Temasek Holdings as to Singapore law were Allen & Gledhill Partners Yeo Wico and Wu Zhaoqi.

Advising DBS, HSBC, OCBC, SCB and UOB as to Singapore law were Allen & Gledhill Partners Margaret Chin and Daselin Ang.

Advising Temasek Financial (IV) and Temasek Holdings on Singapore tax issues was Allen & Gledhill Partner Sunit Chhabra.

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