PSA closes aggressively priced $500m bond, sparks debate on new issue premiums needed
Singaporean port operator PSA raised $500m in the international bond market this week, kicking off a series of bond deals from companies at least partly owned by Singapore’s state-owned investment fund Temasek Holdings. Barclays Capital, Credit Suisse and Goldman Sachs priced the August 2020 bond to yield 100bp over Treasuries, at the tight end of final price guidance set between 100bp and 110bp.
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