Bloomberg News

Temasek Sells S$650 Million of Exchangeable Bonds Due 2014

October 17, 2011

(Updates with share price in second paragraph, arranging bank in third paragraph.)

Oct. 18 (Bloomberg) -- Temasek Holdings Pte sold S$650 million ($513 million) of bonds maturing in 2014 that are exchangeable into Standard Chartered Plc shares, Temasek said in a statement to the Singapore stock exchange.

Bondholders will be allowed to swap the zero-coupon securities into stock at a par value of $0.50 cents each, according to the release. The notes can be exchanged at a 27 percent premium over Standard Chartered’s closing share price of 14.29 pounds ($22.57) on Oct. 17, and the offering is scheduled to close on Oct. 25, the statement said.

Temasek hired Bank of America Corp. to arrange the bond, and has an option to increase the size of the issue by S$150 million, according to the release. Temasek, Singapore’s state- owned investment company, had an 18 percent holding in London- based Standard Chartered as of the end of the first quarter, according to Temasek’s website.

Link to Statement: NSN LT8GGN3PR6RK <GO>

--Editor: Beth Thomas

To contact the reporters on this story: Sean Collins in Singapore at scollins14@bloomberg.net; Tanya Angerer in Singapore at tangerer@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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