As most of you are aware, last week’s Temasek T2023 2.7% 5 year Retail Bonds sold like Bread Talk’s pork floss buns when they first came out (am I getting too old?).

Or in more technical jargon, the retail tranche was over 8 times oversubscribed, with over S$1.6 billion of applications received, and the retail tranche was upsized from S$200 million to S$300 million. I’ve set out the allocation table below, and most investors should have received S$6,000.

As a rough comparison, the Astrea IV Bond allocation was 7.4 times oversubscribed, with S$890 million applications received on S$121 million of bonds. Astrea’s allocation is set out below, where most people would have received S$4000 …