The bonds were priced at fixed rates of 2.75% and 3.10% per annum.

DBS has priced Temasek’s 10-year (T2034-CNH) and 30-year (T2054-CNH) offshore CNY bonds under the US$25b Guaranteed Global Medium Term Note Programme.

The 10-year tranche, T2034-CNH, valued at CNH1b was priced at a 2.75% fixed rate per annum, due 28 August 2034.

Meanwhile, the 30-year tranche T2054-CNH worth CNH1.7b was priced at a 3.10% fixed rate per annum, due 28 August 2054.

The bonds will be issued by Temasek’s financial arm, Temasek Financial (I). Net proceeds from the issuance will be provided to Temasek and its investment holding companies to fund their ordinary course of business.

DBS and Standard Chartered are the bookrunners for the transaction.