By Angela McDaniels
Tacoma, Wash., Dec. 7 - Temasek Holdings (Pvt.) Ltd. subsidiary Temasek Financial (III) Pvt. Ltd. priced S$500 million of zero-coupon guaranteed bonds due 2013 exchangeable for ordinary shares of Li & Fung Ltd., according to a company news release.
There is a S$100 million over-allotment option.
Credit Suisse is the bookrunner.
The two-year notes priced at par.
The exchange price is S$3.923. This is a 40.165% premium over the company's closing share price on Dec. 6 converted at an exchange rate of 6.0668 Hong Kong dollars per Singapore dollar.
The company can elect to settle any exchanges in cash instead of Li & Fung shares.
The Regulation S offering is expected to settle on Dec. 14.
Proceeds will be used to fund business costs.
Temasek is an investment company based in Singapore. Li & Fung is a trading and supply chain management company based in Hong Kong.
| Issuer: | Temasek Financial (III) Pvt. Ltd.
|
| Guarantor: | Temasek Holdings (Pvt.) Ltd.
|
| Issue: | Guaranteed bonds exchangeable into Li & Fung Ltd. ordinary shares
|
| Amount: | S$500 million
|
| Greenshoe: | S$100 million
|
| Maturity: | 2013
|
| Bookrunner: | Credit Suisse
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 0%
|
| Exchange price: | S$3.923
|
| Exchange ratio: | 254.90696
|
| Exchange premium: | 40.165%
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 14
|
| Stock symbol: | Hong Kong: 494
|
| Stock price: | HK$16.98 at close on Dec. 6
|
| Distribution: | Regulation S
|
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