S&P rates Temasek notes AAA

S&P said it assigned an AAA long-term issue rating to a drawdown by Temasek Financial (I) Ltd. under its $25 billion guaranteed global medium-term note program. Temasek Holdings (Private) Ltd. will guarantee the notes. The proposed euro-denominated notes of four years and 10 years will mature in 2027 and 2033 respectively.

“We rate the proposed senior notes the same as our long-term issuer credit rating on Temasek because we do not view the company's capital structure as having any material subordination risks,” S&P said in a press release.

Temasek intends to use the proceeds to fund its ordinary course of business.

The outlook is stable.

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