Hot on the tails of the recent Astrea IV private equity bonds, comes the latest Temasek T2023 5 year Retail Bonds with a 2.7% coupon. In my recent Astrea article, I advanced the argument that Temasek (and Ho Ching) are trying to open up the retail bond scene, and I hate to say I told you so, but you know… I did write it a few months back. But let’s not take anything away from them, huge kudos to them for taking this upon themself.

Basics: T2023-S$ Temasek Bond Offer

These bonds are not the most complex things on earth. They’re issued by a subsidiary of Temasek (which is fairly standard corporate structuring). They’re backed by the Temasek parent, and they pay a fixed rate of 2.70% per year, bi-annually. They will be redeemed by Temasek after 5 years. The bonds will be listed on the SGX-ST so you