The notes are due 2029

Davis Polk advised the arrangers and dealers in connection with the update of the S$10 billion global medium-term note program of SP Group Treasury Pte. Ltd. guaranteed by Singapore Power Limited.

Davis Polk also advised the joint lead managers on a Rule 144A / Regulation S drawdown by SP Group Treasury Pte. Ltd. of $700 million aggregate principal amount of 4.625% notes due 2029 under its S$10 billion global medium-term note program. The notes are guaranteed by Singapore Power Limited and have been assigned credit ratings of “Aa1” by Moody’s and “AA+” by S&P.

Singapore Power Limited is a leading energy utility company in Asia Pacific and is wholly owned by Temasek Holdings (Private) Limited. SP Group Treasury Pte. Ltd. is a wholly owned subsidiary of Singapore Power Limited.

The Davis Polk corporate team included partner James C. Lin, counsel Bingqing Pan and registered foreign lawyer Sean Su. All members of the Davis Polk team are based in the Hong Kong office.

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